Markets advance as economy continues to grow at 1.8%

The Atlanta Federal Reserve expects the nation's economy to grow at an annual rate of 1.8% in the second quarter. The markets continued to rise during the midday with the Dow soaring 95 points to 17,869. Nasdaq gained 25 points to 4,800.


On the upside


An investor group led by Apollo Global Management increased its acquisition offer for Apollo Education (Nasdaq: APOL) to $10 per share.


Tudor Pickering upgraded Newpark Resources (NYSE: NR) from a Hold rating to a Buy rating.


Shares of Mitek Systems (Nasdaq: MITK) continued to rise.

On the downside


Bind Therapeutics (Nasdaq: BIND) filed for Chapter 11 bankruptcy protection.


Zacks Equity Research does not expect EXCO Resources (NYSE: XCO) to beat expectations when the company announces earnings tomorrow after market close.


Pacira Pharmaceuticals (Nasdaq: PCRX) fell to a loss for the first quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 climbed 11 points to 2,077. Bitcoin dropped $8 to $442.

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