Upbeat Earnings Boost Markets To Higher Close

Investors welcomed better than expected earnings reports to boost the markets to a higher close with the Dow climbing 83 points to 9154. Nasdaq gained 16 points to 1984.

On the upside

Brunswick (NYSE: BC) widened second quarter losses but improved its liquidity.

Georgia Gulf (NYSE: GGC) restructured its debt through a debt swap that slashed its debt load by half.

Second quarter earnings for Valassis Communications (NYSE: VCI) surged to beat expectations despite lower revenue as the company cut costs.

On the downside

Incyte (Nasdaq: INCY) posted a loss for the second quarter.

Second quarter earnings and revenue grew for Art Technology Group (Nasdaq: ARTG) but the stock price dropped.

Spirit AeroSystems Holdings (NYSE: SPR) swung to a loss for the second quarter due to charges.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 9 points to 557.