Markets Retreat From Early Morning Highs

The markets retreated from early morning highs but continued trading in positive territory with the Dow rising 36 points to 15,310 as investors monitored federal funding developments in Washington. Nasdaq gained 22 points to 3783.

On the upside

Shares of Premier (Nasdaq: PINC) surged in its market debut.

Covisint (Nasdaq: COVS) stock soared on its first trading day.

J.C. Penney (NYSE: JCP) chief executive Myron Ullman reassured investors that there was no need for the department store operator to raise capital this year.

On the downside

Caesars Entertainment (Nasdaq: CZR) will offer 10 million shares of common stock.

Venaxis (Nasdaq: APPY) reported positive results from the final futility analysis for its APPY1 Test and will proceed with a clinical trial. Investors who anticipated the upbeat news locked in profits.

Eli Lilly (NYSE: LLY) reported that its ramucirumab failed a Phase III metatastic breast cancer study.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 3 points to 1696.

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