Markets Advance As Consumer Confidence Rises

Consumer confidence climbed more than expected to lift the markets during the midday with the Dow adding 4 points to 14,823. Nasdaq gained 18 points to 3325.

On the upside

Pfizer (NYSE: PFE) engaged in discussions with the Food and Drug Administration for next steps in securing approval for the abuse resistant pain treatment Remoxy that was jointly developed by Pain Therapeutics (Nasdaq: PTIE) and Durect (Nasdaq: DRRX).

Transition Therapeutics (Nasdaq: TTHI) reported positive results from a clinical study of its type 2 diabetes treatment TT-401.

First quarter earnings slipped for 3D Systems (NYSE: DDD) but revenue rose to beat expectations.

On the downside

Indications that the Food and Drug Administration will require additional testing for Delcath Systems' (Nasdaq: DCTH) chemotherapy system Melblez sent shares of the medical device maker tumbling.

Newmont Mining (NYSE: NEM) reported lower first quarter earnings and revenue that fell short of analyst expectations.

First quarter earnings slipped for U. S. Silica Holdings (NYSE: SLCA).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index added 2 points to 1596.

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