Rebounding crude oil prices lifted the markets to a sharply higher open with the Dow leaping 115 points to 17,748. Nasdaq soared 45 points to 4,892.
On the upside
Shares of California Resources (NYSE: CRC) rebounded as crude oil prices rose.
A Food and Drug Administration advisory committee voted to support Acadia Pharmaceuticals’ (Nasdaq: ACAD) NUPLAZID to treat psychosis associated with Parkinson’s disease.
Restoration Hardware (NYSE: RH) reported lower fourth quarter earnings but revenue climbed.
On the downside
ContraVir Pharmaceuticals (Nasdaq: CTRV) priced its public offering of approximately 4.9 million common shares and warrants at the discounted price of $1.42 per unit.
Fourth quarter earnings and revenue fell short of expectations for Verint Systems (Nasdaq: VRNT) and the company forecast full year results below estimates.
The Food and Drug Administration issued a Complete Response Letter to Opko Health (NYSE: OPK) for its New Drug Application for RAYALDEE to treat secondary hyperparathyroidism in patients with stage 3 or 4 chronic kidney disease and vitamin D insufficiency.
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 12 points to 2,067. Bitcoin lost $3 to $410.
