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House expected to vote on tax plan tomorrow, markets soar

The markets closed sharply higher with the Dow surging 140 points to 24,792 ahead of tomorrow's expected House tax vote. Nasdaq climbed 58 points to 6,994.


On the upside


Amplify Snack Brands (NYSE: BETR) will be acquired by The Hershey Company (NYSE: HSY) in a deal valued at approximately $1.6 billion.


Xperia (Nasdaq: XPER) narrowed its outlook for the fourth quarter and full year.


Covanta Holding (NYSE: CVA) entered a strategic partnership with Macquarie Group subsidiary Green Investment Group to develop, fund and own Energy-from-Waste projects in Ireland and the UK.


On the downside


Profit taking weighed down shares of Proteostasis Therapeutics (Nasdaq: PTI).


Marinus Pharmaceuticals (Nasdaq: MRNS) extended its losses as investors continued to lock in profits.


Investors continued to take profits on Xunlei (Nasdaq: XNET).


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 gained 10 points to 2,685. Bitcoin plummeted $552 to $18,627.


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