Lower interest rates in China along with strong tech sector earnings sent the markets soaring to a sharply higher close with the Dow jumping 157 points to 17,644. Nasdaq rocketed 111 points to 5,031.
On the upside
Second quarter earnings for QLogic (Nasdaq: QLGC) topped analyst estimates and the company forecast current quarter earnings ahead of expectations.
Bargain hunters lifted shares of Akorn (Nasdaq: AKRX).
Gigamon (NYSE: GIMO) swung to a better than expected profit for the third quarter as revenue climbed.
On the downside
Merit Medical Systems (Nasdaq: MMSI) disappointed with lower third quarter earnings that missed expectations.
Third quarter revenue for Huron Consulting Group (Nasdaq: HURN) fell short of expectations prompting the company to lower its full year revenue outlook.
Emerge Energy (NYSE: EMES) will not issue a cash dividend for the third quarter.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 soared 22 points to 2,075. Bitcoin held steady at $273.
