The markets traded higher during the midday with the Dow gaining 62 points to 17,869 as Federal Reserve chair Janet Yellen speaks at the World Affairs Council of Philadelphia. Nasdaq rose 11 points to 4,954.
On the upside
Helios and Matheson Analytics (Nasdaq: HMNY) will merge with Zone Technologies.
Cyclacel Pharmaceuticals (Nasdaq: CYCC) reported updated Phase 1 data from its DNA damage response program evaluating a combination of seliciclib and sapacitabine.
Rising crude oil prices lifted shares of Bonanza Creek Energy (NYSE: BCEI).
On the downside
Immunomedics (Nasdaq: IMMU) reported disappointing results for its lung cancer treatment IMMU-132.
Jefferies downgraded Mirati Therapeutics (Nasdaq: MRTX) from a Buy rating to a Hold rating while Leerink Partners downgraded the company from an Outperform rating to Market Perform.
Profit taking weighed down shares of Eleven Biotherapeutics (Nasdaq: EBIO).
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 added 3 points to 2,102. Bitcoin climbed $14 to $580.