Upbeat Prospects Lift Markets To Modestly Higher Close

November 17, 2009 1:39 PM |
Investors lifted the markets to a modestly higher close with the Dow rising 30 points to 10,437 after analysts provided upbeat prospects for Microsoft and Exxon Mobil. Nasdaq gained 5 points to 2203.

On the upside

Shares of Poniard Pharmaceuticals (Nasdaq: PARD) rebounded after reporting positive trial results for its chemotherapy drug picoplatin in colorectal cancer patients. Yesterday, the company said that picoplatin failed a trial for lung cancer patients.

Tween Brands (NYSE: TWB) reversed year ago losses to post a profit for the third quarter that topped analyst estimates.

Dillard's (NYSE: DDS) swung to a third quarter profit as the company controlled inventory and welcomed a tax benefit.

On the downside

QuickLogic (Nasdaq: QUIK) announced a direct offering of approximately 4.3 million common shares.

InterMune (Nasdaq: ITMN) changed a midstage clinical trial of its experimental hepatitis C treatment citing possible liver damage.

Jacobs Engineering (NYSE: JEC) disappointed with fourth quarter earnings that missed expectations and forecast 2010 results that fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 602.

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This page contains a single entry by published on November 17, 2009 1:39 PM.

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