Higher Close Over Upbeat Earnings

December 18, 2009 1:39 PM |
Upbeat earnings in the technology sector lifted the markets to a higher close with the Dow gaining 20 points to 10,328. Nasdaq soared 31 points to 2211.

On the upside

J. P. Morgan upgraded Dana Holdings (NYSE: DAN) and lifted its price target for the auto parts supplier.

Darden Restaurants (NYSE: DRI) reported higher second quarter earnings that topped estimates despite lower revenue.

Quiksilver (NYSE: ZQK) widened fourth quarter losses but the results were better than expected.

On the downside

Zale (NYSE: ZLC) cancelled orders and must delay some payments due to sharply lower sales. 

CTC Media (Nasdaq: CTCM) appointed chief financial officer of Modern Times Group Mathias Hermansson to the company's board of directors.

Alliance HealthCare Services (NYSE: AIQ) warned of lower revenue in 2010.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 610.

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