Upbeat Earnings Lift Markets

November 13, 2009 10:44 AM |
Investors focused on upbeat earnings to lift the markets higher during the midday with the Dow gaining 84 points to 10,281. Nasdaq climbed 19 points to 2168.

On the upside

Teen apparel retailer Rue21 (Nasdaq: RUE) made its market debut.

Silicon Storage Technology (Nasdaq: SSTI) will be taken private by Technology Resource Holdings in an all cash deal.

Assured Guaranty (NYSE: AGO) responded to a ratings downgrade by Moody's by vowing to maintain the highest possible ratings.

On the downside

Liberty Global (Nasdaq: LBTYA) will pay approximately $3 billion to acquire German cable company Unitymedia.

Merge Healthcare (Nasdaq: MRGE) will sell 9 million common shares to pay down debt.

Lakeland Financial (Nasdaq: LKFN) priced its offering of 3.5 million shares of common stock at $17 per share.  

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 587.

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This page contains a single entry by published on November 13, 2009 10:44 AM.

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