Stocks Open High on Improving Labor Market

On the upside 

Fannie Mae (NYSE: FNM) received notice from the NYSE that the company has regained compliance with the exchange's minimum price standard for continued listing of its common stock.

Shares of LTX Credence (Nasdaq: LTXC) rose after the chip maker posted a 4th quarter loss, but raised its guidance for 2010.  An analyst promptly upgraded the stock.

Shares of KKR Financial Holdings (NYSE: KFN) surged higher on an analyst upgrade and the possibility of a dividend.

On the downside

A rheumatoid arthritis drug candidate developed by Array BioPharma (Nasdaq: ARRY) missed study goals.  Analysts promptly downgraded the stock.

H&R Block (NYSE: HRB) announced a quarterly loss due to higher acquisition costs.  The tax preparation company posted revenues that edged higher, but missed targets.

G-III Apparel Group (Nasdaq: GIII) posted higher quarterly sales and a narrower loss, but its 2010 outlook was revised downward.

In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks was unchanged at 561.