Upbeat Earnings And Sales Lift Markets

July 14, 2009 1:49 PM |
Upbeat earnings and retail sales lifted the markets to a modestly higher close with the Dow gaining 27 points to 8359. Nasdaq rose 6 points to 1799.

On the upside

Fourth quarter earnings for Hi-Tech Pharmacal (Nasdaq: HITK) surged as generic drug sales leaped.

TerreStar (Nasdaq: TSTR) successfully deployed the world's largest and most advanced commercial communications satellite TerreStar-1.

Advantage Oil (NYSE: AAV) began trading on the Toronto Stock Exchange and the New York Stock Exchange.

On the downside

CoBiz Financial (Nasdaq: COBZ) swung to a second quarter loss as it increased its loan loss provisions and wrote off more debt.

Ardour Capital downgraded Hoku Scientific (NYSE: HOKU).

Shares of Centennial Communications (Nasdaq: CYCL) tumbled as the close of its $944 million acquisition by AT&T (NYSE: T) approached.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by a margin of more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 3 points to 496.

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This page contains a single entry by published on July 14, 2009 1:49 PM.

Better Than Expected Retail Sales Lifts Markets was the previous entry in this blog.

Stocks Open Higher on Corporate Profit Optimism is the next entry in this blog.

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