Surprising Growth In GDP Sends Markets Soaring

October 29, 2009 1:33 PM |
A surprising expansion of the nation's economy for the first time in over a year fueled a buying frenzy to lift the markets to a sharply higher close with the Dow rocketing 199 points to 9962. Nasdaq surged 37 points to 2097. 

On the upside 

Third quarter earnings and revenue surged for AsiaInfo Holdings (Nasdaq: ASIA).

Revlon (NYSE: REV) surprised analysts by swinging to a profit on a continuing operations basis.

Carbo Ceramics (NYSE: CRR) reported third quarter earnings that surpassed analyst estimates by a wide margin.

On the downside

Central Pacific Financial (NYSE: CPF) reported a record quarterly loss due to charges.

CIT (NYSE: CIT) rejected billionaire investor Carl Icahn's loan offer to secure a new $4.5 billion credit facility.

K-SEA (NYSE: KSP) warned that it may fall out of compliance with some financial covenants and cut its quarterly dividend prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 13 points to 580.

Tags:

Search


About this Entry

This page contains a single entry by published on October 29, 2009 1:33 PM.

Expanding Economy Boosts Markets was the previous entry in this blog.

Stocks Open Lower as Consumer Spending Falls is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12