Unexpected Narrowing Of Trade Deficit Lifts Markets

December 10, 2009 6:47 AM |
The nation's trade deficit unexpectedly narrowed in October as the dollar weakened prompting economists to lift their growth estimates for the fourth quarter. The markets opened higher with the Dow climbing 95 points to 10,432. Nasdaq gained 18 points to 2202.

On the upside

Brean Murray upgraded Hansen Medical (Nasdaq: HNSN).

The Wisconsin Department of Transportation awared a $13.2  million contract to EF Johnson Technologies (Nasdaq: EFJI) to provide a statewide interoperable communications system.

Andarko Petroleum (NYSE: APC) announced the discovery of a fifth well in the Gulf of Mexico at the Keathley Canyon Block 875. Plains Exploration & Production (NYSE: PXP) owns a 33.33% stake and Mariner Energy (NYSE: ME) holds a 16.67% stake in the well.

On the downside

SIGA Technologies (Nasdaq: SIGA) will offer approximately 2.7 million common shares to raise approximately $18.6 million.

Provident Financial Holdings (Nasdaq: PROV) priced its offering of 4.5 million common shares at $2.50 per share.

Ciena (Nasdaq: CIEN) widened fourth quarter losses as revenue fell. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap added 2 points to 600.

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This page contains a single entry by published on December 10, 2009 6:47 AM.

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