Unexpected Surge In Home Sales Boosts Markets

On the upside

Longbow upgraded Steelcase (NYSE: SCS) to a Buy rating.

J. P. Morgan upgraded Cigna (NYSE: CI) saying that profit margins should improve over the next few years.

Yuri Itkis Gaming Trust announced that it will make an offer to purchase all outstanding shares of FortuNet (Nasdaq: FNET).

On the downside

Fonar (Nasdaq: FONR) widened first quarter losses.

Credit Suisse analyst Brad Handler said that Weatherford International (NYSE: WFT) has cash flow problems.

Las Vegas Sands (NYSE: LVS) raised $2.5 billion, the low end of the expected range, in the initial public offering of Sands China.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 10 points to 594.