The markets surged to a sharply higher open on upbeat earnings with the Dow leaping 118 points to 25,910. Nasdaq gained 34 points to 7257.

On the upside

Celgene (Nasdaq: CELG) engaged in discussions to potentially buy Juno Therapeutics (Nasdaq: JUNO).

Roku (Nasdaq: ROKU) introduced its new Ad Insights suite that allows marketers to measure campaign reach and effectiveness across linear and over-the-top ads.

Stifel Financial increased its holdings in Momo (Nasdaq: MOMO) by 53.3%.

On the downside

Deutsche Bank analyst Andrew Peters slashed his price target on Halozyme (Nasdaq: HALO) from $19.00 to $2.00.

Adient (NYSE: ADNT) entered a joint venture with Boeing (NYSE: BA) to develop, manufacture and sell airplane seats but Adient began trading ex-dividend today which sent the stock price plummeting.

Ford (NYSE: F) reported preliminary 2017 results that fell short of expectations and forecast disappointing 2018 results.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 8 points to 2,784. Bitcoin collapsed $1,453 to $9,550