Financial regulations may be loosened, markets surge

The markets surged during the midday with the Dow jumping 191 points to 17,563 as the Republican-led House of Representatives prepared to loosen financial regulations. Nasdaq leaped 51 points to 4,644.

On the upside

Neonode (Nasdaq: NEON) will provide touch modules for a Global PC OEM's next generation all-in-one PC and signed a technology development agreement with an additional tier-one printer OEM.

Synageva BioPharma (Nasdaq: GEVA) priced its public offering of 3 million common shares at yesterday's closing price of $94.19 per share.

Reuters reported that Dick's Sporting Goods (NYSE: DKS) was exploring of option of being taken private.

On the downside

Shares of private mortgage insurers Essent Group (Nasdaq: ESNT) and MGIC Investment (NYSE: MTG) fell on news that Federal Housing Administration mortgage insurance premiums would be cut.

Twitter (NYSE: TWTR) chief executive Dick Costolo sold 140,352 shares of company stock for more than $5 million.

Meru Networks (Nasdaq: MERU) warned that fourth quarter revenue would fall short of expectations, announced restructuring plans and retained the services of Deutsche Bank to explore strategic options including the possible sale of the company.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 leaped 23 points to 2025. Bitcoin added $1 to $281.