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Gain in factory orders lifts markets

A gain in June factory activity boosted the markets to a sharply higher open with the Dow leaping 193 points to 21,542. Nasdaq added 3 points to 6,144.


On the upside


Shares of oilfield services firms Noble (NYSE: NE) and Ensco (NYSE: ESV) rose as Baker Hughes (NYSE: BHI) completes its merger with GE Oil & Gas (NYSE: GE).


Bargain hunters lifted shares of Cara Therapeutics (Nasdaq: CARA).


Rising crude oil prices lifted shares of Whiting Petroleum (NYSE: WLL).


On the downside


Shares of Rite Aid (NYSE: RAD) fell again.


Jana Partners acquired a 5.8% stake in EQT (NYSE: EQT) and advocated for the termination of EQT's proposed acquisition of Rice Energy (NYSE: RICE).

Fred's (Nasdaq: FRED) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 gained 14 points to 2,438. Bitcoin soared $73 to $2543.


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