The markets surged to a sharply higher close with the Dow jumping 183 points to 20,636 on bargain hunting. Nasdaq soared 51 points to 5,856.
On the upside
Ametek (NYSE: AME) will acquire Mocon (Nasdaq: MOCO) in a transaction valued at approximately $182 million.
The Food and Drug Administration has scheduled a New Drug Application for Puma Biotechnology's (Nasdaq: PBYI) neratinib for discussion by the Oncologic Drugs Advisory Committee on May 24, 2017.
Westport Fuel Systems (Nasdaq: WPRT) will sell the assets of its Auxiliary Power Unit businesses for $70 million.
On the downside
OncoMed Pharmaceuticals (Nasdaq: OMED) reported disappointing results from a Phase 2 PINNACLE clinical trial of tarextumab to treat extensive stage small cell lung cancer.
Profit taking weighed down shares of China Auto Logistics (Nasdaq: CALI).
Investors locked in profits on Adeptus Health (NYSE: ADPT).
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index soared 20 points to 2,349. Bitcoin leaped $19 to $1197.
