The markets traded higher during the midday with the Dow rising 22 points to 18,076 even as factory output remained flat for the second month. Nasdaq added 7 points to 5,112.
On the upside
Bank of America (NYSE: BAC) reported sharply higher second quarter earnings that beat expectations.
Celegene (Nasdaq: CELG) offered a premium of approximately $7.2 billion in cash to buy Receptos (Nasdaq: RCPT).
Maxim Group initiated coverage of Celsion (Nasdaq: CLSN) with a Buy rating and a $12 price target.
On the downside
Second quarter earnings climbed for Delta Air Lines (NYSE: DAL) to top estimates but the company forecast lower unit revenue for the current quarter.
Alegheny Technologies (NYSE: ATI) warned that it would report a loss for the second quarter.
OTR Global analyst Michael Foster said that Pandora Media (NYSE: P) experienced tepid buyer enthusiasm for a new programmatic buying platform.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 2111. Bitcoin added a point to $288.
Markets advance even as factory output holds steady
July 15, 2015 at 14:23 PM EDT
