Upbeat earnings sent the markets soaring to a sharply higher close with the Dow leaping 123 points to 17,100. Nasdaq jumped 68 points to 4,432.

On the upside

Shares of TubeMogul (Nasdaq: TUBE) surged in its market debut.

Gentiva Health Services (Nasdaq: GTIV) received an acquisition offer that valued the company at approximately $635.5 million.

Roth Capital said that Plug Power (Nasdaq: PLUG) would likely meet its full year revenue guidance.

On the downside

Hub Group (Nasdaq: HUBG) reported flat earnings for the second quarter but revenue fell short of expectations.

JPMorgan downgraded Chemical & Mining Co. of Chile (NYSE: SQM) to a Neutral rating from an Overweight rating and cut its price target from $37 to $30.

General Electric (NYSE: GE) reported higher second quarter earnings but revenue fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 soared 20 points to 1978. Bitcoin added $3 to $624.