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.

About this Entry

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.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12