Indications that the Federal Reserve would continue its bond buying program through the end of the year boosted the markets to a sharply higher open with the Dow soaring 107 points to 15,399. Nasdaq surged 34 points to 3554.
On the upside
Rockwell Medical (Nasdaq: RMTI) reported positive results from a Phase 3 study of its iron deficiency treatment SFP.
Celgene (Nasdaq: CELG) reported upbeat results from a Phase III study of its multiple myeloma drug Revlimid.
The Higher Learning Commission reaffirmed the accreditation of Apollo Group's (Nasdaq: APOL) University of Phoenix.
On the downside
SemiLEDs (Nasdaq: LEDS) widened third quarter losses as revenue dropped.
Silicon Valley Bank requested that a receiver be appointed to collect a loan made to Alvarion (Nasdaq: ALVR).
Merrimack Pharmaceuticals (Nasdaq: MACK) will offer $50 million worth of common stock and $75 million worth of convertible senior notes.
In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index climbed 14 points to 1666.
