Markets Advance At Midday

January 13, 2010 9:23 AM | | TrackBacks (0)
Rising mortgage applications along with retreating oil and gas prices lifted the markets during the midday with the Dow gaining 33 points to 10,660. Nasdaq rose 8 points to 2290.

 

On the upside

Tower Semiconductor (Nasdaq: TSEM) raised its revenue guidance to 2010.

Oriental Express Hotels (NYSE: OEH) priced its offering of 12 million common shares at $10 per share.

Deutsche Bank North America analyst Chris Woronka upgraded Wyndham Worldwide (NYSE: WYN) and lifted his price target on the stock citing the company's attractive price.

On the downside

Flanders (Nasdaq: FLDR) will voluntarily delist itself from Nasdaq because it is not in compliance with some listing rules.

Big 5 Sporting Goods (Nasdaq: BGFV) lowered the high end of its fourth quarter earnings outlook.

Shares of Rambus (Nasdaq: RMBS) fell as its antitrust suit began.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 637.

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