Rise In Homebuilder Sentiment Lifts Markets
The markets continued to advance during the midday with the Dow surging 176 points to 8445 as homebuilder sentiment climbed in April. Nasdaq soared 31 points to 1712.
Converted Organics (Nasdaq: COIN) reported that first quarter sales of its organic fertilizer products was $492,000, below expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 12 points to 488.
On the upside
Shares of ICICI Bank (NYSE: IBN) rose after an election victory by India's Congress Party fueled optimism for banking reform.
Quicksilver Resources (NYSE: KWK) will raise $280 million through the sale of 27.5% of its natural gas leasehold interests to ENI (NYSE: E).
Dillard's (NYSE: DDS) reported higher first quarter earnings even as sales fell.
Shares of Zale (NYSE: ZLC) continued rising over optimism that jewelry sales will rebound.
On the downside
Converted Organics (Nasdaq: COIN) reported that first quarter sales of its organic fertilizer products was $492,000, below expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 12 points to 488.
