Consumer Prices Rise Less Than Expected, Markets Rise

The markets recovered to trade modestly higher during the midday with the Dow adding 22 points to 10,415 as consumer prices rose less than expected in January with core inflation easing by 0.1%. Nasdaq rose 4 points to 2246.


On the upside

Fourth quarter earnings for Sapient (Nasdaq: SAPE) more than doubled to beat expectations.

RAIT Financial Trust (NYSE: RAS) reversed year ago losses to post a profit for the fourth quarter.

The creation of a Wholesale Applications Community by wireless carriers offering apps for smartphones lifted shares of Sprint (NYSE: S).

On the downside

Capstone Turbine (Nasdaq: CPST) priced its offering of 38.1 million common shares at $1.05 per share.

The Food and Drug Administration staff questioned the safety of Salix Pharmaceuticals' (Nasdaq: SLXP) Xifaxan as a liver disorder treatment.

Licensing discussions for ARYx Therapeutics' (Nasdaq: ARYX) oral antiarrythmic drug budiodarone collapsed forcing the biopharmaceutical to reduce its workforce and explore strategic options. 

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 631.

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This page contains a single entry by published on February 19, 2010 10:09 AM.

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