Upbeat Jobs Report Sends Markets Soaring

August 7, 2009 10:03 AM |
An upbeat jobs report sent the markets soaring during the midday with the Dow leaping 123 points to 9379. Nasdaq surged 27 points to 2000.

On the upside

American International Group (NYSE: AIG) reversed year ago losses to report second quarter earnings that surpassed analyst expectations. It was the first quarterly profit for the insurer in nearly two years.

Beazer Homes (NYSE: BZH) narrowed losses for the third quarter.

Apollo Investment (Nasdaq: AINV) reported higher earnings for the first quarter prompting an upgrade.

On the downside

PMI Group (NYSE: PMI) disappointed by reporting a wider than expected loss for the second quarter.

China Digital TV (NYSE: STV) disappointed with lower second quarter earnings as revenue fell.

MoneyGram International (NYSE: MGI) widened second quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 16 points to 573.

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This page contains a single entry by published on August 7, 2009 10:03 AM.

Drop In Jobless Rate Lifts Markets was the previous entry in this blog.

Easing Unemployment Boosts Markets To Higher Close is the next entry in this blog.

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