Strong Manufacturing Activity Lifts Markets To Higher Close
On the upside
Leap Wireless (Nasdaq: LEAP) is exploring strategic options including the sale of the company or a merger with one of its competitors.
Callon Petroleum (NYSE: CPE) completed a $100 million credit agreement with Regions Bank.
Deutsche Bank analyst Rod Lache upgraded Autoliv (NYSE: ALV) citing the company's higher than expected fourth quarter earnings and upbeat forecast.
On the downside
Smithtown Bancorp (Nasdaq: SMTB) swung to a fourth quarter loss as loan loss provisions soared.
While Haemonetics (NYSE: HAE) reported higher third quarter earnings, the results fell short of estimates and the company announced an all cash $60 million deal to acquire Global Med Technologies.
B. Riley & Co. downgraded Central Pacific Financial (NYSE: CPF) after the company reported significant fourth quarter as well as full year losses last week.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 609.