A greater than expected drop in first time applications for unemployment benefits sent the markets soaring with the Dow surging 166 points to 17,802. Nasdaq climbed 23 points to 4,873.
On the upside
HC Wainwright upgraded Amarin (Nasdaq: AMRN) from a Neutral rating to a Buy rating and lifted its price target from $2.50 to $10.
Men’s Wearhouse (NYSE: MW) reported a narrower than expected loss for the fourth quarter.
Penn West Petroleum (NYSE: PWE) declared a quarterly dividend of a penny per share payable on April 15, 2015 to shareholders of record March 31, 2015.
On the downside
ACADIA Pharmaceuticals (Nasdaq: ACAD) delayed the submission of a New Drug Application for its Parkinson’s disease psychosis treatment NUPLAZID until the second half of 2015 and announced the immediate retirement of chief executive Uli Hacksell, Ph.D.
Box (NYSE: BOX) widened losses more than expected.
CyberArk Software (Nasdaq: CYBR) priced its secondary public offering of 4 million common shares at the discounted price of $51 per share.
In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 15 points to 2055. Bitcoin eased a fraction to $293.
