Upbeat Corporate Results Lift Markets
The markets extended its gains during the midday with the Dow climbing 66 points to 11,086 over upbeat corporate results and forecasts. Nasdaq gained 29 points to 2495.
On the upside
The Wall Street Transcript interviewed AEterna Zentaris (Nasdaq: AEZS) chief executive Dr. Jurgen Engel.
DA Davidson upgraded Entegris (Nasdaq: ENTG).
Trico Marine Services (Nasdaq: TRMA) announced that it received new contracts worth over $25 million and sold a vessel for approximately $16 million.
On the downside
Profit takers weighed down shares of Molecular Insight Pharmaceuticals (Nasdaq: MIPI) whose shares surged yesterday after announcing upbeat results from a midstage trial of its cancer drug Onalta.
Citigroup downgraded Dendreon (Nasdaq: DNDN).
Cloud Peak Energy (NYSE: CLD) reported lower coal production for the first quarter.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 716.
