Rise In Pending Home Sales Lifts Markets

Pending home sales rose in December to lift investor sentiment along with the markets during the midday with the Dow climbing 86 points to 10,272. Nasdaq gained 13 points to 2184.


On the upside

An article in the Journal of the National Cancer Institute reviewed the role of hypothermia in cancer treatments saying that adding hypothermia to chemotherapy improved survival rates. BSD Medical's (Nasdaq: BSDM) BSD 2000 Deep Regional Hyperthermia System was used by all institutions participating in the study.

Ann Taylor (NYSE: ANN) announced that fourth quarter earnings will top estimates and far outpace last year's results.

D. R. Horton (NYSE: DHI) reported its first quarterly profit in nearly three years.

On the downside

American Superconductor (Nasdaq: AMSC) reversed year ago losses to post a third quarter profit as revenue surged. The stock price dropped as investors, who had anticipated the wind turbine company to beat expectations, locked in profits.

MannKind (Nasdaq: MNKD) narrowed fourth quarter losses but still fell short of estimates.

Patriot Coal (NYSE: PCX) blamed a significant charges for fourth quarter earnings that plunged.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 613.

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This page contains a single entry by published on February 2, 2010 9:40 AM.

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