Markets Soar On Upbeat Data

The markets soared to close sharply higher with the Dow surging 162 points to 16,424 on upbeat economic data along with assurances from Federal Reserve chair Janet Yellen that interest rates would remain low. Nasdaq climbed 52 points to 4,086.

On the upside

Shares of TriVascular Technologies (Nasdaq: TRIV) climbed in its market debut.

Apricus Biosciences (Nasdaq: APRI) United Kingdom partner Takeda Pharmaceuticals accepted its first shipment of the topical erectile dysfunction treatment Vitaros.

Credit Suisse initiated coverage of Bitauto Holdings (NYSE: BITA) with a Buy rating and a $46 price target.

On the downside

Adtran (Nasdaq: ADTN) reported higher first quarter earnings but revenue fell short of expectations.

Shares of RadioShack (NYSE: RSH) continued falling after a competitor cut its outlook yesterday.

Brinker Capital implemented the social platform solution Proofpoint Archiver for Chatter (Nasdaq: PFPT) but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 19 points to 1862. Bitcoin edged up $2.22 or 0.44% to $508.22.

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