The markets continued its winning week with the Dow gaining 35 points to close at a record 15,118 over upbeat earnings. Nasdaq climbed 27 points to 3436.
On the upside
Actavis (NYSE: ACT) and Warner Chilcott (Nasdaq: WCRX) engaged in preliminary talks for a possible merger of the two companies.
The European Union plans to impose harsh tariffs on Chinese solar companies but investors expect an amicable solution because Europe hopes to increase exports to China. Shares of Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) climbed.
Guggenheim initiated coverage of Trius Therapeutics (Nasdaq: TSRX) with a Buy rating.
On the downside
ExactTarget (NYSE: ET) widened first quarter losses and forecast current quarter earnings below expectations.
Emcore (Nasdaq: EMKR) reversed year ago losses to post a profit for the second quarter but the stock price fell.
MagicJack (Nasdaq: CALL) reported higher first quarter earnings and revenue but the stock price dropped.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 index gained 7 points to 1633.
