Markets Soar Over Better Than Expected Manufacturing Report

A slower than expected contraction of the nation's manufacturing activity sent the markets soaring to a sharply higher close with the Dow surging 114 points to 9286. Nasdaq leaped 30 points to 2008.

On the upside

Shares of Commercial Vehicle Group (Nasdaq: CVGI) surged ahead of its earnings release later this week.

Goldman Sachs analysts expect The Blackstone Group (NYSE: BX) to acquire another company.

Somaxon Pharmaceuticals (Nasdaq: SOMX) stock soared ahead of its earnings release later this week.

On the downside

Ducommun (NYSE: DCO) blamed increased interest expenses for lower than expected second quarter earnings. 

iStar Financial (NYSE: SFI) widened second quarter losses as loan loss provisions surged.

Intergra Bank (Nasdaq: IBNK) blamed sharply higher loan loss provisions for widening second quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks cllimbed 9 points to 565.