Markets higher over merger activity

The markets traded higher during the midday with the Dow rising 23 points to 16,757 over corporate consolidations. Nasdaq gained 13 points to 4,311.

On the upside

Shares of Memorial Resource Development (Nasdaq: MRD) soared on its first trading day.

Abengoa (Nasdaq: ABY) stock leaped in its market debut.

Karyopharm Therapeutics (Nasdaq: KPTI) announced initial Phase 1 data for its Selinexor combined with dexamethasone in multiple myeloma patients.

On the downside

Cesca Therapeutics (Nasdaq: KOOL) priced its public offering of 7.53 units at the discounted price of $1.50 per unit.

Bloomberg News reported that the Justice Department is pursuing a $10 billion settlement from Citigroup (NYSE: C) for misleading investors about mortgage securities bonds.

Galena Biopharma (Nasdaq: GALE) has engaged another marketing firm to promote its experimental breast cancer vaccine Neuvax through fake news articles.

In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE while advancers edged out decliners by a slim margin on Nasdaq. The broader S&P 500 rose 4 points to 1934. Bitcoin added $8.10 or 1.38% to $586.35.

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