Dow bounces back while Nasdaq soars
NEW YORK - Stocks rebounded Friday from a selloff the day before as bargain-hunting investors helped push the Nasdaq composite index up more than 240 points, one of its best one-day performances ever.
The Dow Jones industrial average closed up 157.60 at 10,192.18, a marked contrast to its 379-point plunge Thursday - its fifth-worst day ever in terms of point declines. The Nasdaq surged 242.09 points, or 7.87 percent, to 3,316.77 - the Nasdaq's third-highest one-day point gain and second highest one-day percentage gain.
Advancing issues slightly outnumbered decliners on the NYSE, where volume came to 1.22 billion shares, down slightly from Thursday's pace. Drug firms submit lymphoma drugSmithKline Beecham and drug development partner Coulter Pharmaceutical Inc. say they have an effective, marketable therapeutic solution for one of medicine's unmet needs - treatment for low-grade non-Hodgkins lymphoma.
On Oct. 5, Bexxar was granted "priority review status" toward licensure by the U.S. Food and Drug Administration. Under this status, action will be taken within six months from the date of submission, which was Sept. 15.
Determination of the acceptability of the license application could come as early as mid-November.
SmithKline Beecham operates numerous facilities, including a plant and clinical labs in Aiken.