More records were set today with the Dow gaining 54 points to close at a new high of 16,064 as investors grew more confidant that the Federal Reserve would continue its bond buying program. Nasdaq climbed 22 points to 3991.
On the upside
Splunk (Nasdaq: SPLK) widened third quarter losses but the results were better than expected and the company raised its full year revenue guidance.
A Seeking Alpha contributor wrote that Galena Biopharma (NYSE: GALE) was a wise investment where the potential financial rewards outweighed the risks.
The Wall Street Journal reported that Comcast (Nasdaq: CMCSA) may be interested in acquiring Time Warner Cable (NYSE: TWC).
On the downside
The Food and Drug Administration refused to reconsider Amarin’s (Nasdaq: AMRN) application to expand the approved use of its fish oil drug Vascepa.
Profit taking weighed down shares of CombiMatrix (Nasdaq: CBMX).
Kase Capital Managment’s Whitney Tilson said at an investor conference that he was shorting Lumber Liquidators (NYSE: LL).
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 gained 8 points to 1804, closing above 1800 for the first time. Bitcoin climbed $37 or 5% to $780.
