Gain In Wholesale Inventories Lifts Markets

April 9, 2010 10:18 AM |
Wholesale inventories rose more than expected in February to lift the markets higher during the midday with the Dow climbing 37 points to 10,964. Nasdaq gained 9 points to 2446.

 

On the upside

Lihua International (Nasdaq: LIWA) priced its public offering of more than 3.7 million common shares at $8.05 per share.

Glimcher Realty Trust (NYSE: GRT) refinanced its Mall at Johnson City into a ten year 6.76% fixed interest rate $55 million loan.

Manatee County selected Jacobs Engineering (NYSE: JEC) manage construction of its $20 million Fort Hamer Bridge project.

On the downside

Soleil Securities downgraded Zale (NYSE: ZLC) citing the possibility of a bankruptcy filing.

Constellation Brands (NYSE: STZ) reported a fourth quarter loss and forecast fiscal 2011 results below expectations.

JMP Securities downgraded Compellent Technologies (NYSE: CML).

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 701.

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