The increased likelihood of additional global economic stimulus measures lifted the markets during the midday with the Dow holding steady at 17,810. Nasdaq climbed 32 points to 4,745.
On the upside
Platinum Underwriters Holdings (NYSE: PTP) will be acquired by RenaissanceRe Holdings (NYSE: RNR) in a cash and stock deal valued at approximately $1.9 billion.
Bloomberg reported that Tetraphase Pharmaceuticals (Nasdaq: TTPH) was exploring a possible sale of the company.
Shares of Hertz Global (NYSE: HTZ) extended its gains.
On the downside
TheStreet noted that Galena Biopharma's (Nasdaq: GALE) financing deal with Lincoln Park Financial contained highly unfavorable terms for the struggling biopharmaceutical.
Profit taking weighed down shares of E-House China Holdings (NYSE: EJ).
AT&T (NYSE: T) upgraded its network in Ohio and launched an upgraded service for former Alltel customers but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2067. Bitcoin gained $11 to $380.
Investors anticipate stimulus, markets rise
November 24, 2014 at 12:33 PM EST
