Bernanke's Comments Spark Rally

November 16, 2009 1:48 PM |
Comments by Federal Reserve Chairman Ben Bernanke that interest rates will likely remain low sparked a rally to send the markets soaring to a sharply higher close with the Dow leaping 136 points to 10,406. Nasdaq surged 29 points to 2197.

On the upside

Netlist (Nasdaq: NLST) will introduce its HyperCloud 16GB 2 virtual double-data-rate module at the Supercomputing 09 trade show in Portland, Oregon beginning Tuesday, November 17.

Suntech Power Holdings (NYSE: STP) announced plans to build a photovoltaic panel manufacturing plant in the Phoenix area.

Titanium Metals (NYSE: TIE) signed a five year supply agreement to provide Boeing (NYSE: BA) with titanium.

On the downside

Third quarter earnings plunged for China Architectural Engineering (Nasdaq: CAEI) as revenue dropped.

China INSOnline (Nasdaq: CHIO) reported lower first quarter revenue as clients failed to renew agreements.

Lowe's (NYSE: LOW) declared a quarterly dividend of $0.09 per share payable on February 3, 2010 to shareholders of record January 20, 2010.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 16 points to 602.

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