Rising Pending Home Sales Boosts Markets

July 1, 2009 8:43 AM | | TrackBacks (0)
Rising pending home sales boosted the markets higher during the midday with the Dow soaring 102 points to 8549. Nasdaq gained 23 points to 1858.
 

On the upside

Unisys (NYSE: UIS) commenced private exchange offers and consent solicitations for senior notes.

Although first quarter earnings for Constellation Brands (NYSE: STZ) slipped, the results topped estimates.

Synnex (NYSE: SNX) reported higher second quarter earnings that beat expectations.

On the downside

Force Protection (Nasdaq: FRPT) warned of a soft level of operating profit for the second quarter after losing a $1.1 billion contract.

Myriad Genetics (Nasdaq: MYGN) warned that 2009 revenue from its molecular diagnostics unit will fall short.

Spectrum Pharmaceuticals (Nasdaq: SPPI) will raise $21 million through a registered direct offering.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 519.

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