MARKET PULSE-InterCloud, Cadence, Intrexon, Biostar, Summer Infant
(For more market insights, including options activity, click on ; for the Day Ahead newsletter r.reuters.com/wyd74v; for the Morning News Call newsletter, r.reuters.com/maf74v) The Dow and the S&P 500 climbed to fresh highs on Friday in the wake of reassuring remarks by Federal Reserve chair nominee Janet Yellen that the central bank's accommodative policies would continue.
The Dow Jones industrial average was up 39.21 points, or 0.25 percent, at 15,915.43 and the Nasdaq Composite Index was up 3.24 points, or 0.08 percent, at 3,975.98.
** INTERCLOUD SYSTEMS INC, $4.90, up 92 pct (9:39 a.m. ET)
The cloud and consulting services company's quarterly revenue rose five-fold to $16.2 million, helped by acquisitions and organic growth. (link.reuters.com/zuf74v)
The company also posted a profit of $1.3 million, or 12 cents per share, compared with a loss of $0.8 million, or $2.16 per share, a year earlier.
** CADENCE INC, $7.30, up 24 pct (9:37 a.m. ET)
The drugmaker said on Thursday the U.S. District Court for the District of Delaware ruled in its favor in the company's patent infringement lawsuit against privately held Exela Pharma Sciences LLC concerning Cadence's Ofirmev pain injection. Continued...