Higher close as crude oil prices rebound

Crude oil prices rebounded sending the markets soaring to close higher with the Dow leaping 140 points to 16,739. Nasdaq gained 28 points to 4,889.

On the upside

Crude oil prices soared to lift shares of Denbury Resources (NYSE: DNR) and Petrobras (NYSE: PBR).

Hewlett-Packard (NYSE: HPQ) will eliminate 33,000 jobs over three years as part of its restructuring plan.

Shares of Collegium Pharmaceutical (Nasdaq: COLL) surged again.

On the downside

Idera Pharmaceuticals (Nasdaq: IDRA) presented preclinical data for IMO-2125 to treat cancer.

Sigma Designs (Nasdaq: SIGM) vice president and general manager of Home Multimedia Business Unit Mustafa Ozgen resigned.

Frontier Communications (Nasdaq: FTR) offered a one-year membership to Amazon Prime if customers ordered new high speed Internet service.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 climbed 17 points to 1,995. Bitcoin slipped $1 to $227.