Consumer Confidence Rises Lifting Markets

January 26, 2010 10:15 AM |
Consumer confidence rose to its highest level in over a year to boost the markets during the midday with the Dow gaining 62 points to 10,259. Nasdaq rose 11 points to 2222. 

 

On the upside

Fourth quarter earnings surged for Volterra Semiconductor (Nasdaq: VLTR) to surpass analyst estimates prompting an upgrade.

While fourth quarter earnings tumbled for Baker Hughes (NYSE: BHI), the results topped expectations by a wide margin.

Shares of Barnes and Noble (NYSE: BKS) rose over rumors that Apple's (Nasdaq: AAPL) new Tablet will offer a Barnes and Noble online store.

On the downside

While Zoran (Nasdaq: ZRAN) narrowed losses for the fourth quarter, revenue fell short of estimates.

Ener1 (Nasdaq: HEV) will raise approximately $60 million through an offering of common shares.

While Regions Financial (NYSE: RF) narrowed fourth quarter losses, loan loss provisions rose.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 619.

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This page contains a single entry by published on January 26, 2010 10:15 AM.

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