Better Than Expected Earnings Lifts Markets

October 19, 2009 1:43 PM |
The markets rose to close higher with the Dow climbing 96 points to 10,092 over better than expected earnings news. Nasdaq rose 19 points to 2176.

On the upside

Shiner International (Nasdaq: BEST) will supply China's largest meat product manufacturer Shineway Group with safe packaging.

Shares of Joe's Jeans (NYSE: JOEZ) continued climbing after reporting third quarter earnings last week that topped estimates.

While third quarter earnings and revenue slipped for Texas Instruments (NYSE: TXN), the results were better than expected.

On the downside

Royale Energy (Nasdaq: ROYL) announced a private placement of approximately $2 million worth of common shares and warrants.

Hansen Medical (Nasdaq: HNSN) must restate financial results as far back as the first quarter of 2008 due to errors related to sales its Sensei Robotic Catheter system.

Weatherford International (NYSE: WFT) reported sharply lower third quarter earnings that fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 622.

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