A stronger than expected 2% gain in durable goods orders lifted the markets to a sharply higher open with the Dow leaping 258 points to 15,924. Nasdaq soaring 76 points to 4,583.
On the upside
Schlumberger (NYSE: SLB) will pay a premium of approximately $12.7 billion in cash and stock to acquire Cameron International (NYSE: CAM).
Shares of Forward Industries (Nasdaq: FORD) extended its gains.
Express (NYSE: EXPR) reported sharply higher second quarter earnings that beat analyst expectations as revenue rose and the retailer lifted its full year outlook.
On the downside
Shares of SunEdison (NYSE: SUNE) continued falling.
Falling aluminum prices weighed down shares of Century Aluminum (Nasdaq: CENX).
Transocean (NYSE: RIG) proposed cancelling the next two payments of its previously approved dividend.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 soared 29 points to 1,896. Bitcoin eased a fraction to $219.
Strong durable goods orders lift markets
August 26, 2015 at 10:43 AM EDT