Markets surge as Fed meets

The markets surged during the midday with the Dow jumping 128 points to 17,159 as the Federal Reserve commenced its two-day policy meeting. Nasdaq climbed 35 points to 4,554.

On the upside

Bill Barrett (NYSE: BBG) sold the majority of its Powder River Basin acreage and all of its holdings in the Piceance Basin.

Abraxas (Nasdaq: AXAS) increased its third quarter production guidance while lowering its expected operating costs.

Entropic Communications (Nasdaq: ENTR) retained the services of Barclays to explore strategic options.

On the downside

Opexa Therapeutics (Nasdaq: OPXA) terminated the public offering of common stock that was announced yesterday.

Profit taking weighed down shares of Scientific Games (Nasdaq: SGMS).

Sears Holdings (Nasdaq: SHLD) will borrow $400 million in the form of a short term loan from chief executive officer Edward Lampert's hedge fund ESL Investments

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 gained 14 points to 1999. Bitcoin lost $11 to $461.
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