Markets Extend Gains On Strong Industrial Production

A stronger than expected 0.7% gain in March industrial production boosted the markets during the midday with the Dow surging 125 points to 16,388. Nasdaq climbed 39 points to 4,073.

On the upside

Calcalist reported that SodaStream International (Nasdaq: SODA) engaged in discussions to sell up to a 16% stake in the company.

Goldman Sachs upgraded SouFun Holdings (NYSE: SFUN) from a Neutral rating to a Buy rating.

Shares of Weatherford (NYSE: WFT) rose as oil rig counts continued climbing.

On the downside

Bank of America (NYSE: BAC) blamed significant legal expenses for falling to a loss for the first quarter.

Agnico Eagle Mines (NYSE: AEM) and Yamana Gold (NYSE: AUY) will jointly acquire Osisko Mining.

First quarter earnings fell for CSX (NYSE: CSX) and the railroad company warned that severe winter weather would continue to negatively impact current quarter earnings.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The broader S&P 500 rose 9 points to 1852. Bitcoin added $4.10 or 0.81% to $510.10.

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