Markets Open Higher Over Hopes For EU Assistance For Greece

Investor optimism that the European Union will provide financial assistance to Greece lifted the markets to a higher open with the Dow soaring 131 points to 10,039. Nasdaq climbed 21 points to 2147.


On the upside

United Airlines parent UAL (Nasdaq: UAUA) reported higher January unit revenue and traffic.

Diversified Realty (NYSE: DDR) priced its offering of more than 37 million shares of common stock at $8.16 per share.

Japan Airlines rejected overtures by Delta (NYSE: DAL) to switch alliances to SkyTeam and will continue its partnership with American Airlines (NYSE: AMR) through Oneworld.

On the downside

While Electronic Arts (Nasdaq: ERTS) narrowed third quarter losses, the video game publisher forecast current quarter results well below analyst estimates prompting a downgrade.

Toreador Resources (Nasdaq: TRGL) priced its offering of 3 million common shares at $8.50 per share.

Energy Conversion Devices (Nasdaq: ENER) swung to a wider than expected loss for the second quarter a sales tumbled.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 591.

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This page contains a single entry by published on February 9, 2010 6:49 AM.

Concerns About Europe's Debt Load Sink Stocks was the previous entry in this blog.

Germany's Plan To Assist Greece Lifts Markets is the next entry in this blog.

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