The Federal Reserve’s announcement that it would continue its bond buying program sent the markets soaring in late afternoon trading with the Dow leaping 147 points to 15,676. Nasdaq surged 37 points to 3783.
On the upside
Alliance Fiber Optic Products (Nasdaq: AFOP) lifted its revenue guidance for the third quarter.
The Federal Reserve’s decision to maintain its stimulus program sent shares of AuRico Gold (NYSE: AUQ), Harmony Gold (NYSE: HMY), Endeavour Silver (NYSE: EXK), Gold Fields (NYSE: GFI), Silvercorp Metals (NYSE: SVM) and First Majestic Silver (NYSE: AG) soaring.
Repros Therapeutics (Nasdaq: RPRX) reported upbeat additional study results for its Androxal to treat secondary hypogonadism.
On the downside
Walgreen’s (NYSE: WAG) announcement that it would move its employees to a private health insurance exchange sent shares of the drug store operator’s current medical benefits administrator Catamaran (Nasdaq: CTRX) tumbling.
William Blair wrote that vehicle electrification was lower than earlier forecasts sending shares of Polypore International (NYSE: PPO) tumbling.
Prima Biomed (Nasdaq: PBMD) announced positive results from a phase 2 study of its ovarian cancer treatment CVac but the stock price tumbled.
In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 soared 20 points to 1725.
