Biotechs rebound, markets soar

A rebound of the biotechnology sector boosted the markets during the midday with the Dow leaping 158 points to 16,207. Nasdaq surged 73 points to 4,590.

On the upside

Bellerophon Therapeutics (Nasdaq: BLPH) presented positive data from a clinical trial of INOpulse(R) to treat pulmonary arterial hypertension.

Rentrak (Nasdaq: RENT) will be acquired by ComScore in an all-stock transaction valued at approximately $771 million.

Bloomberg reported that Synaptics (Nasdaq: SYNA) rejected on acquisition offer from a Chinese investor that valued the company at approximately $4 billion.

On the downside

C&J Energy Services (NYSE: CJES) amended its credit facilities and warned that third quarter results will fall short of expectations.

USA Technologies (Nasdaq: USAT) delayed filing its annual report.

Shares of Neuralstem (Nasdaq: CUR) extended its losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 jumped 24 points to 1,908. Bitcoin edged up to $237.
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