Markets Modestly Higher Ahead Of Fed's Rate Decision

The markets traded modestly higher at midday with the Dow gaining 17 points to 9847 ahead of the Federal Reserve's interest rate decision. Nasdaq added 5 points to 2152.

On the upside

Novartis made a $500,000 milestone payment to Opexa Therapeutics (NYSE: OPXA).

YRC (Nasdaq: YRCW) launched its online tool Service Day Calculator that offers clients greater shipment flexibility.

First quarter earnings for AAR (NYSE: AIR) topped estimates prompting an upgrade.

On the downside

ATP Oil & Gas (Nasdaq: ATPG) will offer 5.3 million common shares.

Shares of Corinthian College (Nasdaq: COCO) dropped after Congress announced hearings to scrutinize the for-profit .

Calpine (Nasdaq: TLAB) said that major shareholder Harbinger Capital Partners will sell 20 million of its shares in the company.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 620.

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