Upbeat Earnings, Rising Home Construction Lift Markets

Upbeat earnings news along with a better than expected increase in home construction lifted the markets to a higher close with the Dow climbing 40 points to 10,309. Nasdaq gained 12 points to 2226.


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.

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This page contains a single entry by published on February 17, 2010 1:23 PM.

Gain In New Home Construction Lifts Markets was the previous entry in this blog.

Economic Indicators Rise Less Than Expected, Mixed Open is the next entry in this blog.

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