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Zuckerberg takes responsibility, markets soar

Facebook chief executive Mark Zuckerberg took responsibility for the gathering of personal data from 87 million users of the social media site by a political data firm when he testified before Congress this afternoon. The markets surged to close sharply higher with the Dow vaulting 428 points to 24,408. Nasdaq rocketed 143 points to 7094.


On the upside


Spectrum Pharmaceuticals (Nasdaq: SPPI) reported positive updated data for a Phase 2 study of posiotinib in EGFR Exon 20 Mutant Non-Small Cell Lung Cancer.


Tandem Diabetes Care (Nasdaq: TNDM) reported sharply higher preliminary revenue for the first quarter as pump shipments surged.


Sprint (NYSE: S) has reportedly revived merger discussion with T-Mobile (NYSE: TMUS).

On the downside


Selecta Biosciences (Nasdaq: SELB) presented positive new data from on ongoing Phase 2 trial of SEL-212 to treat chronic severe gout.


UnitedHealthcare terminated its contract with Envision Healthcare (NYSE: EVHC).


Enphase Energy (Nasdaq: ENPH) introduced its 7th-generation Enphase IQ microinverters for the Enphase Home Energy Solution with IQ for the UK market but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 surged 43 points to 2,656. Bitcoin soared $136 to $6,845.


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