The markets traded mixed during the midday with the Dow climbing 100 points to 16,431 as interest rate concerns eased. Nasdaq slipped 3 points to 4315.
On the upside
Shares of Versartis (Nasdaq: VSAR) leaped in its market debut.
Shares of Amber Road (NYSE: AMBR) surged on its first trading day.
Media General will pay approximately $1.6 billion to buy Lin Media (NYSE: LIN).
On the downside
Rosen Law Firm launched an investigation into InterCloud Systems (Nasdaq: ICLD) for potential securities fraud.
Wet Seal (Nasdaq: WTSL) narrowed fourth quarter losses and the company announced a private placement of $27 million worth of convertible notes and warrants.
Sterne Agee downgraded Albany Molecular Research (Nasdaq: AMRI) from a Neutral rating to an Underperform rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 gained 8 points to 1880. Bitcoin lost $15.63 or 2.31% to $576.79.