Markets Close Higher As Regional Manufacturing Activity Rises

February 18, 2010 1:41 PM |
Despite an increase in initial jobless claims, the markets closed higher with the Dow climbing 83 points to 10,392 as regional manufacturing activity rose. Nasdaq gained 15 points to 2241.

 

On the upside

Fourth quarter earnings for Cliffs Natural Resources (NYSE: CLF) doubled.

Gencorp (NYSE: GY) director Warren G. Lichtenstein purchase approximately $1.3 million worth of stock in the company.

Shares of Ruth's Hospitality Group (Nasdaq: RUTH) rose ahead of its earnings release tomorrow before markets open.

On the downside

Shares of DepoMed (Nasdaq: DEPO) fell over concerns that the Food and Drug Administration may not approve the pharmaceutical's menopausal hot flash and postherapetic neuralgia treament gabapentin.

Regeneron Pharmaceuticals (Nasdaq: REGN) blamed higher expenses for widening fourth quarter losses.

While WellCare Health Plans (NYSE: WCG) swung to a profit for the fourth quarter, the health insurer forecast 2010 results below estimates warned that market conditions will continue to be challenging. 

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 629.

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This page contains a single entry by published on February 18, 2010 1:41 PM.

Manufacturing Activity Rises Lifting Markets was the previous entry in this blog.

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