Falling Mortgage Rate Lifts Markets

November 25, 2009 10:12 AM |
The markets traded higher during the midday with the Dow gaining 21 points to 10,454 as mortgage rates fell to match a record low. Nasdaq added 5 points to 2174.

On the upside

US Airways (NYSE: LCC) will lower capital expenditures over the next three years and increase its reserves by $450 million next year.

Deloitte ranked Yingli Green Energy (NYSE: YGE) one of its Technology Fast 50 China companies while The Asset magazine listed Yingli as part of The Asset China's Most Promising Companies 2009 award.

QLT (Nasdaq: QLTI) settled a lawsuit by agreeing to pay Massachussetts General Hospital $20 million.

On the downside

Although Vimpel-Communications (NYSE: VIP) doubled its third quarter earnings, the results fell short of expectations.

Conn's (Nasdaq: CONN) disappointed by widening third quarter losses.

Benihana (Nasdaq: BNHNA) swung to a loss for the second quarter as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 593.

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This page contains a single entry by published on November 25, 2009 10:12 AM.

Drop In Jobless Claims Lifts Markets was the previous entry in this blog.

New Home Sales Surge Lifting Markets To Higher Close is the next entry in this blog.

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