A sharp gain in third quarter economic activity lifted the markets to a higher close with the Dow rising 42 points to 16,221. Nasdaq surged 46 points to 4104.
On the upside
Oramed Pharmaceuticals (Nasdaq: ORMP) reported positive results from a Phase 2a clinical trial of its oral insulin capsule to treat type 1 diabetes.
Red Hat (NYSE: RHT) reported sharply higher third quarter earnings that surpassed analyst expectations as revenue climbed.
Financial Times reported that Beechcraft was close to finalizing a deal to purchase Textron (Nasdaq: TXT) for approximately $1.4 billion.
On the downside
The U.S. International Trade Commission ruled that Nokia (NYSE: NOK), Huawei Technologies and ZTE did not infringe on InterDigital (Nasdaq: IDCC) patents.
Compass Point downgraded Nationstar Mortgage (NYSE: NSM) from a Buy rating to a Neutral rating.
Investors locked in profits on Worthington Industries (NYSE: WOR).
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 8 points to 1818. Bitcoin lost $38.79 or 5.44% to $675.00.
