The markets opened higher this morning with the Dow gaining 56 points to 17,557 after yesterday's steep losses. Nasdaq added 4 points to 4,657.
On the upside
CytRx (Nasdaq: CYTR) reported positive interim results from a Phase 2 study of aldoxorubicin to treat brain cancer.
Minerva Neurosciences (Nasdaq: NERV) reported positive results from a non-human primate study of its neuregulin-1 compound to treat Parkinson's disease.
Gilead Sciences (Nasdaq: GILD) will acquire Phenex Pharmaceuticals' Farnesoid X Receptor program to treat liver diseases.
On the downside
Credit Suisse downgraded Michael Kors (NYSE: KORS) from an Outperform rating to a Neutral rating.
Regions Financial (NYSE: RF) announced its third annual free Financial Fitness Fridays program but the stock price fell.
SandRidge Energy (NYSE: SD) extended its losses as crude oil prices continued to fall.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The broader S&P 500 added 2 points to 2022. Bitcoin edged up a fraction to $274.
Higher open after yesterday's steep losses
January 06, 2015 at 09:43 AM EST