Bargain hunters and tech investors were in the buying mood as the Dow surged 111 points to finish the session at 17,055. Nasdaq rose 24 points to close at 4,440.
On the upside
Citigroup (NYSE: C) posted quarterly results that beat expectations and agreed to pay $7 billion to settle a probe into subprime mortgages.
Apple (Nasdaq: AAPL) was upgraded by analysts on optimism for its upcoming iPhone 6 launch as well as potential tablet, wearable device and television product lines.
Shares of Exelixis (Nasdaq: EXEL) surged on positive trial data results for its advanced melanoma drug treatment.
Shares of Kandi Technologies (Nasdaq: KNDI) announced surging electric vehicle sales for the 2nd quarter and is favorite among momentum investors.
On the downside
The Female Health Company (Nasdaq: FHCO) announced that it would suspend its quarterly dividend in order to invest in a new strategic initiatives.
Harmonic Inc. (Nasdaq: HLIT), a video service provider, lowered its guidance for the 2nd and 3rd quarters
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on both the NYSE and Nasdaq. The broader S&P 500 added 8 points to close at 1,976. Bitcoin rose $11 to $626.
