China's unexpected rate cut sent the markets soaring to a sharply higher open with the Dow surging 143 points to 17,862. Nasdaq climbed 31 points to 4,733.
On the upside
Splunk (Nasdaq: SPLK) widened losses for the third quarter but the results were better than expected and the company forecast current quarter and full year revenue above analyst estimates.
Net Element (Nasdaq: NETE) extended its gains.
Lincoln Park Capital agreed to purchase up to $55 million of Galena Biopharma (Nasdaq: GALE) common stock.
On the downside
GameStop (NYSE: GME) disappointed with lower third quarter earnings and revenue that fell short of analyst expectations and lowered its full year guidance.
On Track Innovations (Nasdaq: OTIV) priced its public offering of 6.25 million common shares at the discounted price of $1.60 per share.
Lexicon Pharmaceuticals (Nasdaq: LXRX) priced its public offering of more than 49.7 million common shares at the discounted price of $1.005 per share.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 16 points to 2069. Bitcoin slipped $3 to $353.
Markets soar on China's surprise rate cut
November 21, 2014 at 09:43 AM EST