November 19, 2012 at 17:24 PM EST
Markets Rocket Over Fiscal Cliff Talks
Rising optimism that the fiscal cliff will be avoided sent the markets surging to a sharply higher close with the Dow rocketing 207 points to 12,795. Nasdaq leaped 62 points to 2916.
On the upside
The Food and Drug Administration expanded approval of Ligand Pharmaceuticals' (Nasdaq: LGND) and GlaxoSmithKline's (NYSE: GSK) Promacta to treat chronic hepatitis C patients with low blood platelet counts.
3D Systems (NYSE: DDD) affirmed all its public disclosures and filings in a conference call this morning.
On the downside
Assurant (NYSE: AIZ) named Larry N. Port to the position of senior vice president, corporate development.
Shares of Safe Bulkers (NYSE: SB) continued falling after reporting lower third quarter margins last week.
Facebook (Nasdaq: FB) clarified that it was not in engaged in discussions to form a new search partnership with Yahoo (Nasdaq: YHOO).
In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 15 points to 791.
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