Strong Manufacturing Activity Lifts Markets To Higher Close

February 1, 2010 1:37 PM |
Manufacturing activity posted its strongest month in nearly six years sending the markets up to a sharply higher close with the Dow soaring 118 points to 10,185. Nasdaq leaped 23 points to 2171. 

 

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.

Tags:

Search


About this Entry

This page contains a single entry by published on February 1, 2010 1:37 PM.

Markets Soar Over Strong Growth In Manufacturing Activity was the previous entry in this blog.

Mixed Open Ahead Of Pending Home Sales Report 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