Closing Bell: Vertex Pharmaceuticals Up on String of Upgrades; Records for Wall Street

The Nasdaq and S&P 500 ended at records for the second day in a row.
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The Nasdaq and S&P 500 ended at records for the second day in a row. Broadcast stocks rose after deal talks between Discovery Communications (DISCA) - Get Report and Scripps Networks (SNI) , while tech names continued their recovery. Morgan Stanley (MS) - Get Report was one of the only banks to rise following its second-quarter report. Investment banking revenue was 27% higher. Like other banks, bond trading revenue did get hit. CSX Corp. (CSX) - Get Report declined after projecting full-year earnings growth below Wall Street estimates. The railroad company did top profit and sales estimates over its second quarter, though, while adding another $500 million to its share buyback program. Vertex Pharmaceuticals (VRTX) - Get Report rocketed higher after a series of analyst upgrades. Raymond James, Cowen and Barclays bumped up their ratings following positive mid-stage results for Vertex's cystic-fibrosis combination treatments.