Higher Close On Strong Earnings

Merger news along with strong earnings lifted the markets to a higher close with the Dow gaining 65 points to 16,514. Nasdaq climbed 39 points to 4,161.

On the upside

Revance Therapeutics (Nasdaq: RVNC) reported positive results from a Phase 1/2 study of its injectable frown line treatment RT002.

Brean Capital initiated coverage of SunEdison (NYSE: SUNE) with a Hold rating while Greenlight Capital disclosed that it acquired a large position in the company.

Jefferies Group initiated coverage of Nektar Therapeutics (Nasdaq: NKTR) with a Buy rating and a $15 price target.

On the downside

A Seeking Alpha contributor reminded investors that Unilife (Nasdaq: UNIS) has been the target of an ongoing law enforcement investigation.

Zacks Small Cap Research said that investors should not own DARA BioSciences (Nasdaq: DARA).

Investors locked in profits on Abraxas Petroleum (Nasdaq: AXAS).

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 rose 7 points to 1879. Bitcoin slipped $2.80 or 0.58% to $485.70.

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