BCYC - Hot Stocks: Travel stocks rally; SRRA ATRS jump on merger deals; NSTG plunges; BCYC extends low

Stocks rebounded from recent weakness on Wednesday, as bargain hunting among beaten-down growth stocks pushed the major averages higher. The Nasdaq led the advance, climbing about 2% on the day. Travel stocks contributed to the upswing. An upbeat earnings report from Delta Air Lines raised hopes of a blockbuster travel season this summer. American Airlines (AAL), Southwest (LUV), Marriott International (MAR) and Hyatt Hotels (H) all finished higher. M&A activity also represented a major catalyst for some of the day's standout gainers. Sierra Oncology (NASDAQ:SRRA) and Antares Pharma (NASDAQ:ATRS) both rallied on separate deals to be acquired. Turning to the downside, NanoString Technologies (NSTG) lost a third of its value on a disappointing preliminary revenue figure. Meanwhile, Bicycle Therapeutics (BCYC) continued a recent downturn, extending its 52-week low. Sector In Focus Strong earnings from Delta Air Lines sparked a general rally in travel stocks. The company signaled a healthy summer

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Hot Stocks: Travel stocks rally; SRRA, ATRS jump on merger deals; NSTG plunges; BCYC extends low