Rising crude oil prices lifted the markets to a higher open with the Dow soaring 185 points to 16,381. Nasdaq surged 66 points to 4,502.
On the upside
Ocular Therapeutix (Nasdaq: OCUL) announced a Phase 3 clinical development strategy for its OTX-TP to treat glaucoma and ocular hypertension.
Regulus Therapeutics (Nasdaq: RGLS) reported upbeat interim results from an ongoing Phase II study of RG-101 to treat Hepatitis C Virus infection.
Fossil Group (Nasdaq: FOSL) reported better than expected fourth quarter earnings.
On the downside
The Food and Drug Administration issued a Refusal to File letter to Catalyst Pharmaceuticals (Nasdaq: CPRX) for its New Drug Application for Firdapse.
Devon Energy (NYSE: DVN) widened losses for the fourth quarter, announced job cuts and slashed its dividend.
Cerner (Nasdaq: CERN) reported higher fourth quarter earnings and revenue that topped analyst estimates but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 soared 22 points to 1,918. Bitcoin climbed $12 to $418.
