Wednesday, April 06, 2022 1:10 PM

The Dow Jones gained 40.76 points or 0.33 percent to 12,434.66, NASDAQ gained 21.83 points or 0.78 percent to 2,813.02 and S&P 500 was 5.70 points or 0.43 percent up at 1,338.33.

Stocks In News

Shares in American Superconductor (NASDAQ: AMSC) were trading down in pre-market trading session after the company said it expects to post a fiscal quarter four 2011 loss and that revenue will be lower than forecast. AMSC is currently trading at $12.92, down 48.07 percent.

Cephalon's (NASDAQ: CEPH) board has rejected a $5.7 billion bid from Canada's Valeant Pharmaceuticals (NYSE: VRX), saying that the $73 a share offer 'significantly undervalues' the biopharmaceuticals company. CEPH is trading down by 0.02 percent at $77.35.

Reportedly, Dish Network (NASDAQ: DISH) has won a bankruptcy auction for Blockbuster (BLOAQ.PK) after it offered $320.6M for the movie-rental chain. DISH is trading 0.45 percent higher at $24.42.

Moody's puts Toyota (NYSE: TM) on review for a possible credit downgrade, citing the likely financial impact of Japan's earthquake and tsunami. Moody's is also monitoring the disasters' impact on Honda (NYSE: HMC) and Nissan (NSANY.PK). TM is trading at $77.34, down 0.37 percent.

Apple (NASDAQ: AAPL) was rising 0.5 percent to $340.70 after a judge overturned a $625 million patent infringement award against the company, explaining that the jury was mistaken in finding the tech giant guilty of infringing on Mirror Worlds LLC's technology. AAPL is trading at $342.42, up 1.04 percent.