The markets closed higher with the Dow rising 19 points to 16,399 as investors welcomed efforts by Germany and France to support Europe's economic recovery. Nasdaq surged 57 points to 4,316.
On the upside
Greenlight Capital's David Einhorn recommended buying shares of SunEdison (NYSE: SUNE) and TerraForm Power (Nasdaq: TERP).
Bezinga.com reported that Lenovo was preparing to make an offer to purchase BlackBerry (Nasdaq: BBRY).
Lennox International (NYSE: LII) reported higher third quarter earnings that topped analyst estimates.
On the downside
A jury found that Trinity Industries (NYSE: TRN) was liable for violating the False Claims Act and must pay $525 million in damages.
Tesoro Logistics (NYSE: TLLP) announced a public offering of 19.35 common units and will offer $1.3 billion in senior notes.
QEP Resources (NYSE: QEPM) sold it natural gas gathering and processing business to Tesoro Logistics (NYSE: TLLP) but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 climbed 17 points to 1904. Bitcoin slipped $4 to $380.
Economic support for Europe in the works, markets close higher
October 20, 2014 at 17:57 PM EDT