The markets markets opened higher with the Dow climbing 84 points to 19,967 as the blue chip index flirted with the 20,000 mark. Nasdaq gained 19 points to 5,476.
On the upside
Conatus Pharmaceuticals (Nasdaq: CNAT) entered an exclusive collaboration and license agreement with Novartis to develop and commercialize emricasan.
Fred's (Nasdaq: FRED) will pay $950 million in cash to acquire 865 stores from Walgreens Boots Alliance (Nasdaq: WBA) and Rite Aid (NYSE: RAD).
Acadia Pharmaceuticals (Nasdaq: ACAD) reported positive data top-line results from a Phase II exploratory study of pimavanserin.
On the downside
Sucampo Pharmaceuticals (Nasdaq: SCMP) will offer $225 million in convertible senior notes.
NeoPhotonics (NYSE: NPTN) cut its fourth quarter guidance and agreed to sell its Access and Low Speed transceiver product lines to APAT Optoelectronics Components.
Second quarter earnings for Worthington Industries (NYSE: WOR) fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 index rose 6 points to 2,269. Bitcoin edged up to $785.
