Stronger Than Expected Consumer Confidence Lifts Markets
On the upside
The Mongolian government cancelled its windfall profits tax on copper and gold clearing the way for Ivanhoe Mines (NYSE: IVN) to finalize its agreement to construct and operate its Oyu Tolgoi copper and gold complex.
Second quarter earnings for Chico's FAS (NYSE: CHS) rose as sales climbed and gross margin improved.
The Food and Drug Administration approved expanded labeling for CAS Medical's (Nasdaq: CASM) brain monitoring device to include infants under 2.5 kilograms in weight.
On the downside
UBS downgraded Denbury Resources (NYSE: DNR).
Accuray (Nasdaq: ARAY) disappointed with fourth quarter earnings that fell short of estimates and forecast first quarter results well below expectations.
China Security & Surveillance Technology (NYSE: CSR) will sell over 4 million common shares to raise $25.35 million.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 586.
