Markets Rebound

The markets rebounded to open higher with the Dow rising 43 points to 15,165 after yesterday's sharp sell-off. Nasdaq added 3 points to 3440.

On the upside

Apollo Tyres will pay a premium of approximately $2.22 billion in cash to acquire Cooper Tire & Rubber (NYSE: CTB).

Ulta Salon, Cosmetics & Fragrance (Nasdaq: ULTA) reported higher first quarter earnings and revenue that surpassed analyst expectations.

Tudor Pickering upgraded Spectra Energy (NYSE: SE) from Accumulate to Buy.

On the downside

A Seeking Alpha contributor wrote that Celsion (Nasdaq: CLSN) was a good stock to short and expects the share price to plunge 50%.

Shares of ARMOUR Residential REIT (NYSE: ARR) began trading ex-dividend today.

Investors locked in profits on Kandi Technologies (Nasdaq: KNDI).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE and by more than to 9 to 7 on Nasdaq. The broader S&P 500 index rose 4 points to 1630.

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