The markets extended its gains during the midday with the Dow rising 33 points to 16,731 as crude oil prices rose. Nasdaq gained 15 points to 4,598.
On the upside
Apollo Commercial Real Estate Finance (NYSE: ARI) will pay a premium of approximately $14.59 per share in cash and stock to acquire Apollo Residential Mortgage (NYSE: AMTG).
Alarm.com Holdings (Nasdaq: ALRM) reported better than expected earnings and revenue for the fourth quarter and forecast full year results ahead of estimates.
Bargain hunters snapped up shares of Unit (NYSE: UNT).
On the downside
The Food and Drug Administration placed Cara Therapeutics’ (Nasdaq: CARA) postoperative pain trial for I.V. CR845 on clinical hold.
Harsco (NYSE: HSC) narrowed losses for the fourth quarter but revenue dropped to fall short of expectations and the company forecast current quarter as well as full year earnings below estimates.
Orexigen Therapeutics (Nasdaq: OREX) fell to a greater than expected loss for the fourth quarter as revenue plunged.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 added 3 points to 1,955. Bitcoin added $1 to $424.
