Markets Advance As Wholesale Prices Slip
On the upside
A federal court requested that the patent office review its decision to deny a patent extension for Medicines Co.'s (Nasdaq: MDCO) Angiomax anti-clotting drug.
KongZhong (Nasdaq: KONG) reported sharply higher fourth quarter earnings as revenue climbed.
Focus Media (NYSE: CPF) appointed John C. Dean to the position of Chairman of the Board.
On the downside
Star Scientific (Nasdaq: CIGX) widened losses for 2009 due to a patent infringement settlement paid to RJ Reynolds.
Meridian Biosciences (Nasdaq: VIVO) cut its full year outlook.
While Boston Scientifc's (NYSE: BSX) Cardiac Resynchronization Therapy Defibrillators met study goals, the Food and Drug Administration suggested that the results may not be as significant in the marketplace.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 686.
