Bargain hunters lifted the markets higher during the midday with the Dow surging 138 points to 17,279. Nasdaq soared 65 points to 4,660.
On the upside
Xencor (Nasdaq: XNCR) entered a collaboration and license agreement with Novartis to develop and commercialize XmAb 14045 and XmAb 13676.
Zacks Equity Research wrote that Rocket Fuel (Nasdaq: FUEL) was one of seven Internet stocks with great charts.
Endo International (Nasdaq: ENDP) received a patent for Vasostrict.
On the downside
Babcock & Wilcox Enterprises (NYSE: BW) slashed its 2016 profit forecast and announced plans to eliminate 200 jobs.
Piper Jaffray downgraded Meritor (NYSE: MTOR) from a Neutral rating to an Underweight rating.
Zacks added Fibrocell Science (Nasdaq: FCSC) to its Zacks Rank #1 List but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 climbed 20 points to 2,020. Bitcoin rose $4 to $639.
