Optimism that a deal could be reached over the weekend to resolve both the government shutdown and the debt ceiling limit sent the markets to a higher close with the Dow soaring 111 points to 15,237. Nasdaq climbed 31 points to 3791.
On the upside
Spirit Airlines (Nasdaq: SAVE) reported a greater than expected increase in September revenue per available seat mile prompting an upgrade.
Seaspan (NYSE: SSW) terminated its proposed public offering of common stock and convertible notes.
Sterne, Agee & Leach upgraded Infoblox (NYSE: BLOX) from a Neutral rating to a Buy rating and set a price target of $47 on the stock.
On the downside
The Food and Drug Administration determined that a study on the heart risks of Amarin’s (Nasdaq: AMRN) Vascepa must be completed before discussions to potentially expand approved uses of the very high triglycerides treatment.
Endocyte (Nasdaq: ECYT) reported disappointing results from a mid stage clinical trial of its cancer drug vintafolide.
Falling gold prices weighed down shares of Barrick Gold (NYSE: ABX) and Eldorado Gold (NYSE: EGO).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 gained 10 points to 1703.
