The markets surged to a sharply higher open with the Dow soaring 140 points to 18,099 as crude oil prices recovered. Nasdaq climbed 33 points to 5,025.
On the upside
Ctrip (Nasdaq: CTRP) fell to a loss for the fourth quarter but the results were better than expected and the Chinese travel site forecast sharply higher first quarter revenue.
Prothena (Nasdaq: PRTA) reported positive results from a Phase 1 study of its Parkinson’s disease treatment PRX002.
Shares of VBL Therapeutics (Nasdaq: VBLT) surged ahead of its presentation today at the BioCentury 22nd Annual Future Leaders in the Biotech Industry Conference.
On the downside
Simon Property Group (NYSE: SPG) made a final offer for Macerich (NYSE: MAC) valued at approximately $23.2 billion including the assumption of debt and expressed disappointment that Macerich had adopted a poison pill earlier this week.
AK Steel Holding (NYSE: AKS) warned of losses for the first quarter.
Investors locked in profits on Amicus Therapeutics (Nasdaq: FOLD).
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The broader S&P 500 gained 13 points to 2102. Bitcoin slipped $2 to $258.
