Strong economy boosts markets

Strong growth of the nation's economy in the second quarter sent the markets soaring during the midday with the Dow surging 91 points to 17,037. Nasdaq climbed 17 points to 4,484.

On the upside

Agios Pharmaceuticals (Nasdaq: AGIO) will present Phase I study data of its advanced hematologic malignancies treatment AG-120 at the 26th EORTC-NCI-AACR Symposium on Molecular Targets and Caner Therapeutics in November.

Repros Therapeutics (Nasdaq: RPRX) reported positive results from a study of its secondary hypogonadism treatment Androxal and announced that the Food and Drug Administration granted a Type B Pre-NDA meeting to discuss the company's planned New Drug Application for Androxal.

CytRx (Nasdaq: CYTR) announced that vice president of business development David J. Haen will now present at 3:30pm ET today, September 26, at BioCentury's 2014 NewsMakers in Biotech Industry Conference.

On the downside

The Street Ratings downgraded Graftech International (NYSE: GTI) from a Hold rating to a Sell rating.

Shares of Pimco funds Pimco High Income Fund (NYSE: PHK), Pimco Corporate & Income Opportunity Fund (NYSE: PTY), Pimco Global StocksPLUS & Income Fund (NYSE: PGP) and Pimco Strategic Income Fund (NYSE: RCS) all fell after Bill Gross announced his departure from the company that he founded.

Powell Industries (Nasdaq: POWL) lowered its full year earnings and revenue outlook.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 rose 7 points to 1973. Bitcoin lost $7 to $399.
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