Crude oil prices rose to lift the markets to a sharply higher open with the Dow leaping 145 points to 18,386. Nasdaq soared 44 points to 5,337.
On the upside
The Food and Drug Administration granted tentative approval to IntelliPharmaCeutics International's (Nasdaq: IPCI) abbreviated new drug application for quetiapine fumarate extended release tablets.
Raymond James upgraded Mylan (Nasdaq: MYL) from a Market Perform rating to a Strong Buy rating and lifted its price target to $57.
Tesaro (Nasdaq: TSRO) reported positive results from a Phase 3 ENGOT-OV16/NOVA clinical trial of niraparib.
On the downside
Bloomberg reported that Twitter (NYSE: TWTR) may have no acquisition offers.
Bristol-Myers Squibb (NYSE: BMY) reported disappointing updated results from two Phase 3 studies of Opdivo to treat advanced non-small cell lung cancer.
Profit taking continued to weigh down Coty (NYSE: COTY).
In the broad market, advancing issues outpaced decliners by a margin of 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 climbed 14 points to 2,168. Bitcoin added $2 to $616.
