Greece Removed From Credit Watch, Markets Rise

March 16, 2010 10:33 AM |
Standard & Poor's removed Greece from its credit watch list and affirmed its rating to lift the markets higher during the midday with the Dow gaining 77 points to 10,659. Nasdaq climbed 9 points to 2371.

 

On the upside

Shares of Financial Engine (Nasdaq: FNGN) surged on its first day of trading.

Patriot Coal (NYSE: PCX) announced that it will sell nearly 1.5 million tons of metalluirgical coal to Asia.

Rumors circulated that private equity firm Kohlberg Kravis Roberts may be interested in acquiring Harley-Davison (NYSE: HOG).

On the downside

Sterne Agee downgraded United Western Bancorp (Nasdaq: UWBK) after the company swung to a fourth quarter loss.

Although DSW (NYSE: DSW) swung to a profit for the fourth quarter, earnings fell short of estimates.

General Steel Holdings (NYSE: GSI) blamed a charge for widening fourth quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 676.

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