Markets Up Over Economic Recovery Hopes

Investors remained hopeful of a global economic recovery.  The markets traded modestly higher during the midday  with the Dow rising 35 points to 9541. Nasdaq inched up 2 points to 2023.

On the upside

Barron's expects Electro-Optical Sciences' (Nasdaq: MELA) stock price to surge 50% if the Food and Drug Administration approves the company's computer assisted, hand held device for detecting early forms of melanoma.

Benchmark upgraded Sinclair Broadcast (Nasdaq: SBGI) after the television station owner announced last week that it will repurchase debt securities.

Capstone Turbine (Nasdaq: CPST) received an order for three C800 microturbine systems to treat wastewater in Brazil.

On the downside

Valeant Pharmaceuticals International (NYSE: VRX) reported that its pain medication for shingles patients failed a mid-stage clinical study.

Citi Investment Research analyst John Tysseland downgraded Natural Resource Partners(Nasdaq: NRP) saying that the company may lower distribution.

Shares of Ford (NYSE: F) fell on the last day of the government's Cash for Clunkers program.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 584.