The markets surged to close sharply higher with the Dow soaring 391 points to 12,654 as oil prices retreated. Nasdaq leaped 84 points to 2363.
On the upside
Cell Genesys (Nasdaq: CEGE) partnered with Takeda Pharmaceutical to jointly develop and market Cell Genesys' prostate cancer treatment GVAX immunotherapy.Canadian regulators approved Progenics Pharmaceuticals' (Nasdaq: PGNX) opiod induced constipation treatment Relistor.
Shares of Lennar (NYSE: LEN) rose as home construction fell for the 24th month in a row.
On the downside
TransCanada (NYSE: TRP) will pay approximately $2.8 billion to acquire the Ravenswood Generating Facility.
Moneygram International (NYSE: MGI) reported a quarterly loss as expenses soared.
American Vanguard (NYSE: AVD) blamed inclement weather for warning that first quarter earnings will be less than last year.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 23 points to 711.
