Markets Soar Over Strong Growth In Manufacturing Activity

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Strong growth in manufacturing activity sent the markets soaring during the midday with the Dow surging 104 points to 10,172. Nasdaq climbed 17 points to 2164. 

 

On the upside

Bank of Florida (Nasdaq: BOFL) widened fourth quarter losses as loan loss provisions nearly doubled but the stock price rose.

Gaming revenue in Macau surged 63.3% in January to lift shares of Las Vega Sands (NYSE: LVS).

Brazilian sugar company Cosan (NYSE: CZZ) will partner with Shell to produce ethanol.

On the downside

Art Technology Group (Nasdaq: ARTG) will offer 25 million common shares in order to raise capital.

Fourth quarter earnings for MDU Resources (NYSE: MDU) slipped and the natural resource company forecast 2010 results below expectations.

Citigroup downgraded Lubrizol (NYSE: LZ) to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 607.

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This page contains a single entry by published on February 1, 2010 10:09 AM.

Increasing Personal Incomes Lift Markets To Higher Open was the previous entry in this blog.

Strong Manufacturing Activity Lifts Markets To Higher Close is the next entry in this blog.

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