Markets soar as Ukraine advances against separatists

The markets opened sharply higher with the Dow surging 138 points to 16,801 as Ukrainian forces advanced against separatists. Nasdaq climbed 35 points to 4500.

On the upside

Dollar General (NYSE: DG) engaged in a bidding war for Family Dollar Stores (NYSE: FDO) by topping Dollar Tree's (Nasdaq: DLTR) $8.5 billion cash and stock offer with an offer of $8.95 billion in cash.

Deutsche Bank upgraded Achillion Pharmaceuticals (Nasdaq: ACHN) from a Hold rating to a Buy rating and lifted its price target from $6 to $17.

Sky-mobi (Nasdaq: MOBI) reported sharply higher second quarter earnings as revenue climbed.

On the downside

Goldman Sachs downgraded NXP Semiconductors (Nasdaq: NXPI) from a Neutral rating to a Sell rating.

Fabrinet (NYSE: FN) delayed the release of its fourth quarter and full year financial results due to an audit committee investigation into accounting matters.

Investors locked in profits on Cheetah Mobile (NYSE: CMCM).

In the broad market, advancing issues outpaced decliners by a margin of 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 climbed 14 points to 1969. Bitcoin fell $29 to $457.

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