Upbeat Earnings Boost Markets Higher

June 25, 2009 10:22 AM |
Upbeat earnings news boosted the markets higher uring the midday with the Dow surging 181 points to 8481. Nasdaq soared 34 points to 1827.
 

On the upside

Dress Barn (Nasdaq: DBRN) will acquire Tween Brands (NYSE: TWB) for approximately $157 million in stock.

Hertz Global (NYSE: HTZ) second quarter and full year results ahead of analyst expectations.

J. P. Morgan Securities analyst Andrew Wessel upgraded Sallie Mae (NYSE: SLM) citing recent government contracts.

On the downside

Acxiom (Nasdaq: ACXM) warned that first quarter revenue will drop to fall far short of analyst estimates.

ConAgra Foods (NYSE: CAG) disappointed with lower fourth quarter earnings even as revenue rose.

Fourth quarter earnings and revenue for Jackson Hewitt Tax Service (NYSE: JTX) dropped to fall short of estimates.

In the broad market, advancing issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 503.

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This page contains a single entry by published on June 25, 2009 10:22 AM.

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