Merger and acquisition activity lifted the markets to a sharply higher close with the Dow leaping 121 points to 18,162. Nasdaq surged 73 points to 5,106.
On the upside
Avago Technologies engaged in advanced discussions to purchase Broadcom (Nasdaq: BRCM).
Reports that Greece has was drafting an agreement with its creditors lifted shares of National Bank of Greece (NYSE: NBG).
Idera Pharmaceuticals (Nasdaq: IDRA) will present at the Jefferies 2015 Global Healthcare Conference and at the 9th Annual JMP Securities Healthcare Conference.
On the downside
Yingli Green Energy (NYSE: YGE) reported lower full year earnings.
China Ming Yang Wind Power (NYSE: MY) reported sharply lower first quarter earnings even as revenue rose.
Investors continued to lock in profits on Youku Tudou (NYSE: YOKU).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 soared 19 points to 2123. Bitcoin held steady at $236.
M&A activity lift markets
May 27, 2015 at 18:20 PM EDT
