Upbeat Earnings Lifts Markets To Higher Open

December 18, 2009 6:47 AM |
Upbeat earnings from Oracle and Blackberry maker Research in Motion lifted the markets to a higher open with the Dow gaining 36 points to 10,345. Nasdaq climbed 24 points to 2204.

On the upside

Research in Motion (Nasdaq: RIMM) impressed with higher third quarter earnings that topped analyst estimates as sales surged prompting upgrades.

Oracle (Nasdaq: ORCL) reported higher second quarter earnings that beat expectations due to favorable exchange rates.

Although Take-Two Interactive (Nasdaq: TTWO) widened fourth quarter losses, investors expect current quarter revenue to top estimates.

On the downside

Palm (Nasdaq: PALM) narrowed second quarter losses but a drop in smartphone sales weighed on investors. 

RBC Capital Markets downgraded Career Education (Nasdaq: CECO).

LDK Solar (NYSE: LDK) modified its offering to approximately 16.5 million American Depository Shares to raise $108 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 607.

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This page contains a single entry by published on December 18, 2009 6:47 AM.

Disappointing Gain In Jobless Claims Sends Markets Tumbling was the previous entry in this blog.

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