Greece may repay loans to France on a slower schedule alleviating fears of a default. The markets closed sharply higher with the Dow surging 108 points to 12,043. Nasdaq soared 35 points to 2688.
On the upside
XOMA (Nasdaq: XOMA) discovered two new classes of antibodies that activate or sensitize the insulin receptor in vivo.
Horizon Lines (NYSE: HRZ) amended its credit facility in order to comply with financial covenants.
Republic Airways (Nasdaq: RJET) will add nonstop seasonal flights from Branson, Missouri to both Austin, Texas and Phoenix, Arizona.
Shares of Durrect (Nasdaq: DRRX) continued falling after the Food and Drug Adminstration rejected on Friday the abuse-resistant pain treatment Remoxy that the company developed with Pain Therapeutics (Nasdaq: PTIE).
JMP Securities analyst Alex Gauna affirmed his Outperform rating for Nvidia (Nasdaq: NVDA) but the stock price fell.
Bristol-Myers Squibb (NYSE: BMY) and AstraZeneca (NYSE: AZN) reported positive results over the weekend for their Type 2 diabetes treatment but both stock prices dropped.