Optimism Over Greece Bailout Lifts Markets To Higher Open

March 2, 2010 6:45 AM |
Optimism over a bailout package for Greece lifted the markets to a higher open with the Dow rising 27 points to 10,431. Nasdaq gained 10 points to 2284.

 

On the upside

The Food and Drug Administration approved CombinatoRx's (Nasdaq: CRXX) extended release opioid pain treatment Exalgo.

Terra Industries (NYSE: TRA), which has rejected past take-over offers from CF Industries (NYSE: CF), received another $4.74 billion bid from CF.

Fourth quarter earnings slipped for Questcor Pharmaceuticals (Nasdaq: QCOR) but the results best expectations by a wide margin.

On the downside

Staples (Nasdaq: SPLS) blamed restructuring and integration costs for lower fourth quarter earnings that missed expectations and forecast full year results below estimates.

NutriSystem (Nasdaq: NTRI) reversed year ago losses due to cost cutting measures but the weight loss company forecast first quarter results well below analyst expectations.

Bank of America Merrill Lynch slashed its price target for Prudential (NYSE: PUK) citing the insurer's $35 billion cash and stock acquisition of American Insurance Group's (NYSE: AIG) Asia operations. 

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 added 2 points to 645.

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This page contains a single entry by published on March 2, 2010 6:45 AM.

Markets Close Higher As Investors Await Greece Bailout Details was the previous entry in this blog.

Merger And Acquistion Activity Lifts Markets is the next entry in this blog.

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