Financial News

Markets extend gains at midday

The markets advanced during the midday with the Dow surging 116 points to 17,779. Nasdaq leaped 63 points to 5,117.

On the upside

Credit Suisse initiated coverage of the newly formed HP (NYSE: HPQ) with an Outperform rating and a $19 price target.

Citron Research failed to release additional fraud allegations against Valeant Pharmaceuticals (Nasdaq: VRX) after promising that more charges would be made public.

NorthStar Realty Finance (NYSE: NRF) completed the spin-off of NRE, the company's European real estate business and completed its one-for-two reverse stock split.

On the downside

Ceragon Networks (Nasdaq: CRNT) swung to a profit for the third quarter but the results fell short of expectations.

Green Brick Partners (Nasdaq: GRBK) cut its full year earnings outlook.

Profit taking sent shares of Qunar Cayman Islands (Nasdaq: QUNR) tumbling.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The broader S&P 500 soared 18 points to 2,098. Bitcoin surged $15 to $333.

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