Opening Bell Report
Bargain hunters lifted the markets to a higher open after yesterday's collapse with the Dow surging 169 points to 10,779. Nasdaq leaped 38 points to 2137.
On the upside
Rising crude oil prices lifted shares of Exxon Mobil (NYSE: XOM).
Bargain hunters snapped up shares of Verasun Energy (NYSE: VSE) after analyst downgrades sent the stock price tumbling.
On the downside
Capstone Turbine (Nasdaq: CPST) will raise approximately $29.5 million through the offering of common stock and warrants.
Real estate investment trust ProLogis (NYSE: PLD) blamed business development delays for lowering its full year guidance prompting a downgrade.
Oil and gas services company Tetra Technologies (NYSE: TTI) withdrew its 2008 earnings outlook due to damage inflicted by Hurricanes Gustav and Ike.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 686.
