The markets closed modestly higher with the Dow gaining 29 points to 18,040 as stalled consumer spending tempered enthusiasm for a strong jump in construction spending. Nasdaq rose 12 points to 5,082.
On the upside
Ignyta (Nasdaq: RXDX) reported positive interim results from two Phase 1 clinical trials of entrectinib.
Shares of Heron Therapeutics (Nasdaq: HRTX) continued soaring.
Affiliates of Apollo Global Management will acquire OM Group (NYSE: OMG) for a premium of $34 per share in cash.
On the downside
A researcher questioned the benefits of Puma Biotechnology's (NYSE: PBYI) neratinib in treating breast cancer given the side effects.
Goldman Sachs downgraded Cloud Peak Energy (NYSE: CLD) from a Neutral rating to a Sell rating.
Shares of Aeropostale (NYSE: ARO) continued falling.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slime margin on Nasdaq. The broader S&P 500 added 4 points to 2111. Bitcoin lost $7 to $223.
Modestly higher close as consumer spending stalls
June 01, 2015 at 17:45 PM EDT
