Citigroup On Track To Profitability, Markets Close Up

March 11, 2010 1:46 PM |
Comments by Citigroup chief executive Vikram Pandit that the bank was on track to sustained profitability lifted the markets to a higher close with the Dow gaining 44 points to 10,611. Nasdaq rose 9 points to 2368.

 

On the upside

iGo (Nasdaq: IGOI) reported break even results for the fourth quarter. Analysts were expecting a loss.

Fourth quarter earnings rose for Gymboree (Nasdaq: GYMB) to top estimates and the children's clothing retailer announced expansion plans in the Middle East.

DeLorme placed an order with Globalstar (Nasdaq: GSAT) for over 15,000 SPOT Satellite Communicators.

On the downside

Significant Zale (NYSE: ZLC) shareholder Franklin Resources has sold most of its 4.7 stake in the jewelery retailer.

Men's Wearhouse (NYSE: MW) swung to a loss as revenue dropped to miss expectations.

Shares of Quiksilver (NYSE: ZQK) fell ahead of its earnings release after market close.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 677.

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This page contains a single entry by published on March 11, 2010 1:46 PM.

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