Markets soar as crude oil rebounds

Crude oil prices rebounded to lift the markets higher during the midday with the Dow surging 187 points to 16,339. Nasdaq leaped 56 points to 4,582.

On the upside

Big Shopping Centers and Mega Or Holdings offered to acquire the 53.8% of the outstanding shares of Blue Square Real Estate that is held by Alon Blue Square (NYSE: BSI).

IntelliPharmaCeutics International (Nasdaq: IPCI) reported successful bioequivalence results for its abuse deterrent Rexista Oxycodone XR.

Carlson Capital holds 4.7 million shares of Kindred Healthcare (NYSE: KND).

On the downside

Shares of SolarCity (Nasdaq: SCTY) tumbled after the Nevada Public Utilities Commission held its first hearing about new solar fees that were imposed last month.

Deutsche Bank downgraded Supervalu (NYSE: SVU) from a Buy rating to a Hold rating and cut its price target from $8.00 to $6.00.

Barclays downgraded Yamana Gold (NYSE: AUY) from an Overweight rating to an Equal Weight rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 soared 20 points to 1,911. Bitcoin eased $1 to $431.

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