Increasing Personal Incomes Lift Markets To Higher Open

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A greater than expected gain in December personal incomes llifted the markets to a higher open with the Dow climbing 72 points to 10,140. Nasdaq rose 9 points to 2156. 

 

On the upside

Conolog (Nasdaq: CNLG) received advanced orders for 280 of its PDR systems and other equipment valued at over $1.9 million.

Newscorp (Nasdaq: NWSA) will pay Valassis Communications (NYSE: VCI) $500 million to settle an antitrust suit.h

Drilling at InterOil's (NYSE: IOC) Antelope-2 well has reached total vertical depth and preparations have begun to drill a horizontal extenion.

On the downside

Morgan Stanley downgraded Warner Chilcott (Nasdaq: WCRX).

While Gannett (NYSE: GCI) reversed year ago losses to post a profit for the fourth quarter, advertising revenue tumbled.

Fourth quarter earnings for Humana (NYSE: HUM) surged due to higher Medicare Advantage business but the health insurer forecast 2010 results below expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 605.

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This page contains a single entry by published on February 1, 2010 6:47 AM.

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Markets Soar Over Strong Growth In Manufacturing Activity is the next entry in this blog.

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