Upbeat Manufacturing Activity Boosts Markets

January 4, 2010 1:46 PM | | TrackBacks (0)
Upbeat manufacturing activity boosted the markets to a higher close with the Dow surging 155 points to 10,583 on the first day of trading of 2010. Nasdaq leaped 39 points to 2308.

 

On the upside

Fuel Systems Solutions (Nasdaq: FSYS) will present at Needham & Company's 12th Annual Growth Stock Conference and will participate in the CIBC Clean Energy Investor Conference later this month.

Oppenheimer analyst Scott Burk said that increasing spot rates will benefit Genco Shipping (NYSE: GNK).

Analysts upgraded Morgan Stanley (NYSE: MS).

On the downside

BPZ Resources (NYSE: BPZ) completed two wells in northwest Peru but the stock price dropped.

A class action lawsuit has been filed agains Kohlberg Capital (Nasdaq: KCAP) alleging securities fraud.

Fannie Mae (NYSE: FNM) announced plans to sell $4 billion worth of three month and six month notes.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 14 points to 640.

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This page contains a single entry by published on January 4, 2010 1:46 PM.

Stronger Than Expected Manufacturing Activity Lifts Markets was the previous entry in this blog.

Pending Home Sales Drop, Markets Open Lower is the next entry in this blog.

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