Gain In Business Inventories Lifts Markets To Higher Close

On the upside

Shares of MannKind (Nasdaq: MNKD) continued to climb after the biopharmaceutical announced on Tuesday it expects FDA approval for its inhaled insulin Afrezza.

Rumors that Textron (NYSE: TXT) will be acquired lifted shares of the aerospace firm.

Mad Money's Jim Cramer cited a better ad campaign, a new recipe and expansion of its international business for recommending Domino's Pizza (NYSE: DPZ).

On the downside

Canadian Solar (Nasdaq: CSIQ) entered a joint venture with West Holding to sell and distribute solar residential rooftop systems in Japan but the stock price dropped.

Reuters reported that Germany will cut its solar incentives by 16% to 17% sending shares of JA Solar (Nasdaq: JASO), Trina Solar (NYSE: TSL) and Suntech Power Holdings (NYSE: STP) tumbling.

Sprint (NYSE: S) secured more than $500 million in new and renewed federal contracts in 2009 but the stock price slipped.

In the broad market, advancing issue outpaced decliners by a margin of 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 646.