The nation's service sector activity expanded more than expected in September to lift the markets to a sharply higher close with the Dow surging 112 points to 18,281. Nasdaq gained 26 points to 5,316.
On the upside
Cantor Fitzgerald initiated coverage of Corbus Pharmaceuticals (Nasdaq: CRBP) with a Buy rating and a $17 price target.
Net 1 Ueps Technologies (Nasdaq: UEPS) acquired a strategic stake in Blue Label Telecoms.
Johnson Rice upgraded KBR (NYSE: KBR) from a Hold rating to an Accumulate rating.
On the downside
AZZ (NYSE: AZZ) disappointed with sharply lower second quarter earnings and revenue and suspended its full year forecast.
Investors locked in profits on Global Blood Therapeutics (Nasdaq: GBT).
Tenax Therapeutics (Nasdaq: TENX) reported disappointing results from the LeoPARDS trial evaluating levosimendan in septac shock.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 9 points to 2,159. Bitcoin added $2 to $609.
