Markets Advance As Services Sector Expands
On the upside
Microvision (Nasdaq: MVIS) announced that a consumer electronics client place an $8.5 million purchase order for the new ultra-miniature PicoP laser projection display engine.
UBS upgraded Cree (Nasdaq: CREE).
National Dentex (Nasdaq: NADX) will go private in a deal valued at approximately $100 million.
On the downside
Analysts downgraded TASER International (Nasdaq: TASR).
Rising crude oil prices weighed down shares of Continental Airlines (NYSE: CAL) and US Airways Group (NYSE: LCC).
A Barron's article said that Energy Conversion Devices' (Nasdaq: ENER) share value will continue to fall as competitors introduce more efficient products with lower prices.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 694.
