Upbeat earnings and strong gains in consumer confidence sent the markets soaring to a sharply higher close with the Dow surging 187 points to 17,005. Nasdaq leaped 78 points to 4,564.
On the upside
Apple (Nasdaq: AAPL) selected Aerohive Networks (NYSE: HIVE) to provide networking solutions for the ConnectED Initiative.
Medicines Company (Nasdaq: MDCO) won its patent infringement suit against Mylan.
Tornier (Nasdaq: TRNX) will merge with Wright Medical Group (Nasdaq: WMGI) in an all stock deal valued at approximately $3.3 billion.
On the downside
Pioneer Energy Services (NYSE: PES) reversed year ago losses to post a profit for the third quarter but the results fell short of analyst expectations.
Investors locked in profits on Cyber-Ark Software (Nasdaq: CYBR).
Medidata Solutions (Nasdaq: MDSO) reported sharply lower third quarter earnings even as revenue rose and lowered its full year outlook.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 soared 23 points to 1985. Bitcoin added 2 points to $353.
Upbeat data sends markets soaring
October 28, 2014 at 18:02 PM EDT