Better Than Expected Earnings Lift Markets

On the upside 

Liz Claiborne (NYSE: LIZ) signed an exclusive deal to sell its namesake apparel at J. C. Penney (NYSE: JCP).

The National Defense Transportation Association awarded YRC Worldwide (Nasdaq: YRCW) the 2009 NDTA Distinguished Service Award.

Shares of Lennar (NYSE: LEN) rose over optimism that the $8,000 tax credit for first time home buyers will be extended.

On the downside

Repros Therapeutics (Nasdaq: RPRX) will raise approximately $4.4 million through the sale of 3.5 million shares to institutional investors.

Savient Pharmaceuticals (Nasdaq: SVNT) will sell approximately 4.6 million shares in order to raise capital.

WellPoint (Nasdaq: WLP) stock tumbled after a nonpartisan budget analysis said that the healtcare reform bill will not increase the budget deficit.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 610.