Geithner Presses For Broader Reform

Treasury Secretary Timothy Geithner pressed Congress for comprehensive reforms to the financial system to protect the economy against future meltdown.  The Dow climbed 102 points to 7852 while Nasdaq leaped 38 points to 1567.

On the upside

Fourth quarter earnings for Citi Trends (Nasdaq: CTRN) surged to top estimates prompting an upgrade.  Separately, the clothing company announced the retirement of chief executive Ed Anderson on April 4.

Shares of solar stocks JA Solar (Nasdaq: JASO), Yingli Green Energy (NYSE: YGE) and Suntech Power (NYSE: STP) all surged after the Chinese government expressed support for solar energy.

Although third quarter earnings for Texas Industries (NYSE: TXI) fell, the results topped analyst estimates as the cement company cut costs.

On the downside

Yahoo (Nasdaq: YHOO) will shutter its bargain travel site FareChaser in order to reduce costs and streamline processes.

U. S. Bank (NYSE: USB) oaned $28 million to privately held St. Louis barge operator Robert B. Miller & Associates.

Neurocrine (Nasdaq: NBIX) reported that its endometriosis treatment elagolix failed a phase II clinical trial.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq.  The Russell 2000 which tracks small cap stocks added 10 points to 437.