Low Interest Rates Lift Markets To Higher Open

March 17, 2010 6:50 AM |
On the heels of the Federal Reserve decision yesterday to hold interest rates steady, Japan also affirmed its low interest rate lifting the markets to a higher open with the Dow gaining 39 points to 10,725. Nasdaq rose 10 points to 2388.

 

On the upside

Financial Times reported that private equity firm Apax has been engaged in discussions to take Polycom (Nasdaq: PLCM) private.

LSI (NYSE: LSI) lifted its first quarter guidance as sales climbed.

Focus Media (Nasdaq: FMCN) narrowed fourth quarter losses as one time expenses fell.

On the downside

Analysts downgraded FUQI International (Nasdaq: FUQI) after the company announced that earnings were overstated for the first, second and third quarters of 2009 due to accounting errors.

Shares of Vimpel-Communications (NYSE: VIP) fell ahead of its earnings release tomorrow.

Teekay Offshore (NYSE: TOO) priced its 4.4 million follow-on public offering at $19.48 per unit.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 683.

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This page contains a single entry by published on March 17, 2010 6:50 AM.

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