Markets Advance On Iran Nuclear Deal

The markets traded higher during the midday with the Dow rising 22 points to 16,087 as oil prices dropped in the wake of a preliminary nuclear deal with Iran. Nasdaq rose 5 points to 3996.

On the upside

Orexigen Therapeutics (Nasdaq: OREX) reported positive interim results from the Light Study for its obesity treatment Contrave and will resubmit its New Drug Application to the Food and Drug Administration in the next few weeks.

Shares of Prima BioMed (Nasdaq: PBMD) surged after chief executive Matthew Lehman presented at the 11th Annual Commercial Translation of Regenerative Medicine meeting.

Shares of Sungy Mobile (Nasdaq: GOMO) extended its gains after a successful initial public offering on Friday.


On the downside


A Seeking Alpha contributor recommended shorting InterCloud Systems (Nasdaq: ICLD).

Investors locked in profits on Lions Gate (NYSE: LGF) after "The Hunger Games: Catching Fire" set a November box office record.

Stifel Research downgraded Qihoo 360 (NYSE: QIHU) from a Buy rating to a Hold rating.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 5 to 4 on Nasdaq. The broader S&P 500 edged up a fraction to 1805. Bitcoin eased a fraction or 0.02% to $818.

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