Markets soar as banks pass stress test

The markets surged after two days of losses to close sharply higher with the Dow rocketing 259 points to 17,895 as all major U.S. banks passed the annual stress test. Nasdaq soared 43 points to 4,893.

On the upside

Epizyme (Nasdaq: EPZM) fell to a loss for the fourth quarter but the results were better than expected.

Integrated Silicon Solution (Nasdaq: ISSI) will be acquired by a consortium of investors led by Summitview Capital in a cash deal valued at approximately $639.5 million.

Citigroup (NYSE: C) passed the Federal Reserve's stress test, increased its quarterly dividend and announced plans to repurchase up to $7.8 billion in stock.

On the downside

Comtech Telecommunications (Nasdaq: CMTL) reported higher second quarter earnings but the company forecast current quarter earnings and revenue that missed analyst expectations.

Ply Gem (NYSE: PGEM) reported a wider than expected loss for the fourth quarter.

Inogen (Nasdaq: INGN) delayed the release of its fourth quarter and full year financial report due to an ongoing internal investigation into its accounting practices.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 7 to 3 on Nasdaq. The broader S&P 500 surged 25 points to 2065. Bitcoin added a fraction to $294.