Markets surge on easing Ukrainian tensions

Merger activity and easing tensions in Ukraine boosted the markets to a sharply higher close with the Dow jumping 175 points to 16,838. Nasdaq surged 43 points to 4508.

On the upside

First Analysis upgraded HMS Holdings (Nasdaq: HMSY) from an Equal Weight rating to an Overweight rating.

Shares of J.C. Penney (NYSE: JCP) continued climbing.

MLV & Co. upgraded Halcon Resources (NYSE: HK) from a Hold rating to a Buy rating.

On the downside

Monness Crespi & Hardt initiated coverage of EPAM Systems (NYSE: EPAM) with a Sell rating.

Shares of Sprint (NYSE: S) slipped on news reports that the company will introduce cheaper pricing plans.

Glu Mobile (Nasdaq: GLUU) extended its losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 climbed 16 points to 1971. Bitcoin dropped $42 to $445.

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