The nation's economy expanded at a greater than expected rate in the first quarter to lift the markets to a higher open with the Dow rising 30 to 17,858. Nasdaq gained 18 points to 4,920.
On the upside
LendingClub (NYSE: LC) has engaged in discussions with Citigroup to possibly buy its loans.
Shares of Relypsa (Nasdaq: RLYP) surged after the Food and Drug Administration rejected rival AstraZeneca's (NYSE: AZN) potassium lowering drug ZS-9.
Deutsche Bank upgraded Vivint Solar (NYSE: VSLR) from a Hold rating to a Buy rating.
On the downside
Discussions for Zoomlion Heavy Industry Science and Technology to acquire Terex (NYSE: TEX) have ended.
Palo Alto Networks (NYSE: PANW) widened losses for the third quarter prompting downgrades.
Hercules Offshore (Nasdaq: HERO) filed for bankruptcy protection.
In the broad market, advancing issued outpaced decliners by a margin of 3 to 2 on the NYSE while and by more than 7 to 5 on Nasdaq. The broader S&P 500 rose 4 points to 2,094. Bitcoin soared $21 to $472.
First quarter GDP revised upward, markets open higher
May 27, 2016 at 10:43 AM EDT
