Upbeat Earnings, Rising Home Construction Lift Markets
On the upside
Immunomedics (Nasdaq: IMMU) received a patent for its human antibody treatment.
A surge in revenue helped Ultra Clean (Nasdaq: UCTT) swing to a fourth quarter profit.
Dollar Thrifty Automotive Group (Nasdaq: DTG) reversed year ago losses to post a stronger than expected profit for the fourth quarter.
On the downside
PositiveID (Nasdaq: PSID) expanded its non-invasive glucose testing products and diabetes management tools by acquiring the intellectual property rights and assets of Easy Check Medical Diagnostics.
Investors locked in profits on Rogers Communications (NYSE: RCI) after the company swung to a profit for the fourth quarter. The stock price rose last week in anticipation of its earnings release.
RSC Holdings (NYSE: RRR) blamed sharply lower revenue for swinging to a fourth quarter loss.
In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 624.