Slowing Pace Of Job Losses Lifts Markets

September 4, 2009 1:26 PM |
Despite a greater than expected increase in the nation's unemployment rate, the markets closed higher with the Dow soaring 96 points to 9441 as the pace of job losses slowed. Nasdaq climbed 35 points to 2018.

On the upside 

Facet (Nasdaq: FACT) received an acquisition offer of approximately $355 million from Biogen Idec.

Esterline Technologies (NYSE: ESL) reported higher third quarter earnings and lifted its full year guidance.

Las Vegas Sands (NYSE: LVS) will sell $600 million worth of bonds.

On the downside

American International Group (NYSE: AIG) delayed the announcement of the purchaser of itsTaiwan Nan Shan Life business.

The Food and Drug Administration approved the expanded use of Spectrum Pharmaceuticals' (Nasdaq: SPPI) cancer treatment Zevalin but analyst alreadly anticipated the approval.

Ford (NYSE: F) settled a toxic waste lawsuit alleging that the automaker dumped paint sludge and other toxic materials in northern New Jersey.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points 570.

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This page contains a single entry by published on September 4, 2009 1:26 PM.

Markets Rise As Pace Of Job Losses Slows was the previous entry in this blog.

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