A drop in first time applications for unemployment benefits to its lowest level in nearly 15 years sent the markets soaring to a sharply higher close with the Dow surging 180 points to 18,115. Nasdaq leaped 68 points to 5,132.
On the upside
The Wall Street Journal reported that Sequential Brands (Nasdaq: SQBG) was close to finalizing a deal to acquire Martha Stewart Living Omnimedia (NYSE: MSO).
Cantor Fitzgerald lifted its price target on Synergy Pharmaceuticals (Nasdaq: SGYP) from $8.50 to $14.00.
PBF Energy (NYSE: PBF) will pay approximately $322 million to acquire Chalmette Refining from ExxonMobil (NYSE: XOM) and PDV Chalmette.
On the downside
Profit taking continued to sink shares of Advaxis (Nasdaq: ADXS).
Agenus (Nasdaq: AGEN) will present at the 2015 JMP Securities Life Sciences Conference next Tuesday.
SuperCom (Nasdaq: SPCB) priced its public offering of 2.1 million common shares at the discounted price of $12 per share.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 20 points to 2121. Bitcoin held steady at $247.
Drop in jobless claims boost markets
June 18, 2015 at 18:10 PM EDT
