The S&P 500 rose 0.67% to 1,946.74 in midday trading Wednesday.
The Dow Jones Industrial Average rose 0.55% to 16,651.86 and the Nasdaq rose 1% to 4,431.19.
The yield on a 10-year Treasury bond fell 1% to 2.42%.
The price of gold was up 0.27% to $1,314.20.
HEALTHCARE
Irvine-based drug maker Allergan Inc. is up 1.6% to $155.47 and a market capitalization of $46.2 billion. A report today cautioned that some of its defensive maneuvers in battling a takeover by Canada-based Valeant Pharmaceuticals International Inc., such as attempts to delay a shareholder meeting or making an acquisition Allergan shareholders would like less than being acquired by Valeant, could backfire on the company in the long-term.
TECHNOLOGY
Irvine-based online software and intellectual property company Ubiquity Inc. is up 4.5% to $6.09 and a market cap of $597.6 million. It announced a $150 million letter of intent to develop and distribute its Sprocket software in Asia.
