The markets opened sharply higher with the Dow soaring 108 points to 15,244 ahead of earnings season. Nasdaq rose 10 points to 3490.
On the upside
OptionMonster wrote that purchases of Yingli Green Energy’s (Nasdaq: YGE) August 4 calls surged.
Bank of America upgraded Linn Energy (Nasdaq: LINE) saying that the company’s accounting practices have not misled investors.
On the downside
Investors locked in profits on Celldex Therapeutics (Nasdaq: CLDX).
Cytokinetics (Nasdaq: CYTK) reported a programming error in a Phase IIb double-blind, randomized, placebo-controlled clinical trial of tirasemtiv.
Evercore downgraded ON Semiconductor (Nasdaq: ONNN) from an Overweight rating to an Equal Weight rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index climbed 11 points to 1643.