Strong earnings lifted the markets to a higher open with the Dow gaining 41 points to 18,600. Nasdaq climbed 47 points to 5,084.
On the upside
The Food and Drug Administration approved the opioid-induced constipation treatment developed by Progenics Pharmaceuticals (Nasdaq: PGNX) and Valeant Pharmaceuticals (NYSE: VRX).
Shares of Ocean Power Technologies (Nasdaq: OPTT) surged again.
SunEdison will sell its interest in TerraForm Global (Nasdaq: GLBL).
On the downside
Zafgen (Nasdaq: ZFGN) will discontinue the development of its obesity treatment beloranib and cut its workforce by 34%.
Falling gold and silver prices weighed down shares of Coeur Mining (NYSE: CDE) and McEwen Mining (NYSE: MUX).
Shares of Ryerson Holding (NYSE: RYI) extended its losses.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 gained 5 points to 2,168. Bitcoin lost $2 to $663.
