Gain In New Home Construction Lifts Markets

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A better than expected increase in January new home construction lifted the markets during the midday with the Dow gaining 28 points to 10,296. Nasdaq rose 7 points to 2221.

 

On the upside

Cyclacel Pharmaceuticals (Nasdaq: CYCC) that its seliciclib was effective in treating breast cancer that had become resistant to hormone therapy.

Discovery Communications (Nasdaq: DISCA) will replace Pepsi Bottling Group on the S&P 500 index after PepsiCo completes its acquisition of Pepsi Bottling.

Pacer International (Nasdaq: PACR) reversed year ago losses to post a better than expected profit for the fourth quarter.

On the downside

Masimo (Nasdaq: MASI) swung to a fourth quarter profit as revenue rose but the stock price fell as investors locked in profits. Shares of the medical technology company rose last week ahead of its earnings release.

Nova Measuring Instruments (Nasdaq: NVMI) reversed year ago losses to post a profit. Investors anticipated the upbeat results and sold off on the stock to lock in profits.

Inverness Medical Innovations (NYSE: IMA) disappointed by swinging to a fourth quarter loss. 

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 623.

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This page contains a single entry by published on February 17, 2010 10:05 AM.

Markets Open Up As Home Construction Rises was the previous entry in this blog.

Upbeat Earnings, Rising Home Construction Lift Markets is the next entry in this blog.

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