Markets surge on upbeat earnings

Upbeat earnings boosted the markets to a sharply higher close with the Dow surging 174 points to 20,578. Nasdaq climbed 53 points to 5,916.


On the upside


MicroVision (Nasdaq: MVIS) will develop a Laser Beam Scanning display system for a major technology company.


SunCoke Energy (NYSE: SXC) reversed year ago losses to post a profit for the first quarter.


Datawatch (Nasdaq: DWCH) narrowed losses for the second quarter as revenue climbed.


On the downside


The Consumer Financial Protection Bureau sued Owen Financial (NYSE: OCN) alleging that the mortgage company engaged in systemic misconduct that caused widespread errors which resulted in some clients losing their homes.


Sarissa Capital said that Innoviva (Nasdaq: INVA) reneged on a proxy settlement.

Proofpoint (Nasdaq: PFPT) reported a loss for the first quarter.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index climbed 17 points to 2,355. Bitcoin soared $30 to $1236.


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