The markets opened mixed with the Dow gaining 51 points to 19,808 while Nasdaq lost 16 points to 5,428 as oil producing nations partnered with OPEC to cut oil production.
On the upside
Achaogen (Nasdaq: AKAO) reported positive results from Phase 3 cUTI and CRE clinical trials of plazomicin.
An agreement by non-OPEC nations to cut production in partnership with OPEC lifted shares of Bonanza Creek Energy (NYSE: BCEI), Vanguard Natural Resources (Nasdaq: VNR) and W&T Offshore (NYSE: WTI).
Shares of drilling services providers Ocean Rig (Nasdaq: ORIG) and SeaDrill (NYSE: SDRL) surged alongside oil producers.
On the downside
Ophthotech (Nasdaq: OPHT) reported disappointing results from two Phase 3 clinical trials of Fovista to treat wet age-related macular degeneration.
Alexion Pharmaceuticals (Nasdaq: ALXN) chief executive David Hallal and chief financial officer Vikas Sinha were both replaced by the company's board of directors as an investigation into improper sales practices continued.
Investors locked in profits on Interspace Diagnostics Group (Nasdaq: IDXG).
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The broader S&P 500 index added 2 points to 2,262. Bitcoin climbed $10 to $771.
