The markets closed higher with the Dow rising 19 points to 22,661 as the nation's services sector expanded at its fastest pace in 12 years. Nasdaq added 2 points to 6,534.
On the upside
Intelsat (NYSE: I) and Intel (Nasdaq: INTC) submitted a proposal to access the midband spectrum of 3.7 to 4.2 GHz for 5G services.
CytomX Therapeutics (Nasdaq: CTMX) entered a strategic collaboration agreement with Amgen (Nasdaq: AMGN) to jointly develop a CytomX Probody T-cell engaging bispecific against the Epidermal Growth Factor Receptor.
Shares of MannKind (Nasdaq: MNKD) extended its gains.
On the downside
Sequans Communications (NYSE: SQNS) lowered its third quarter revenue guidance.
Office Depot (Nasdaq: ODP) will pay approximately $1 billion to acquire CompuCom Systems.
Strongbridge Biopharma (Nasdaq: SBBP) priced its public offering of 4 million common shares at the discounted price of $6.25 per share.
In the broad market, declining issues barely edged out advancers by a slim margin on both the NYSE and on Nasdaq. The broader S&P 500 rose 3 points to 2,537. Bitcoin tumbled $60 to $4,204.
