Gain In Manufacturing Index Lifts Markets
On the upside
Gentium (Nasdaq: GENT) narrowed fourth quarter losses as revenue climbed.
AZZ (NYSE: AZZ) will pay approximately $125.6 million to acquire North American Galvanizing & Coatings (Nasdaq: NGA).
Pacific Ethanol (Nasdaq: PEIX) widened fourth quarter losses due to a significant impairment charge but adjusted earnings beat last year's results by a wide margin.
On the downside
While China GrenTech (Nasdaq: GRRF) narrowed fourth quarter losses, revenue fell.
Worthington Industries (NYSE: WOR) blamed charges for swinging to a loss for the third quarter.
Deutsche Bank cited valuation concerns for downgrading BlackRock (NYSE: BLK).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 683.
