Markets Advance To Close Higher Over Surging New Home Sales
The markets advanced in late afternoon trading to close higher with the Dow climbing 69 points to 11,204 as investors focused on a surge in new home sales. Nasdaq gained 11 points to 2530.
On the upside
Acacia Research (Nasdaq: ACTG) swung to a profit that topped analyst estimates.
Western Alliance Bancorp (NYSE: WAL) narrowed first quarter losses prompting an upgrade.
International Game Technology (NYSE: IGT) reported higher second quarter income as revenue rose.
On the downside
Taser International (Nasdaq: TASR) widened first quarter losses as revenue and margins both dropped.
First quarter earnings for Pegasystems (Nasdaq: PEGA) tumbled to fall short of expectations as operating expenses climbed.
While The New York Times (NYSE: NYT) swung to a profit for the first quarter, investors were disappointed by a greater than expected drop in advertising revenue.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 741.
On the upside
Acacia Research (Nasdaq: ACTG) swung to a profit that topped analyst estimates.
Western Alliance Bancorp (NYSE: WAL) narrowed first quarter losses prompting an upgrade.
International Game Technology (NYSE: IGT) reported higher second quarter income as revenue rose.
On the downside
Taser International (Nasdaq: TASR) widened first quarter losses as revenue and margins both dropped.
First quarter earnings for Pegasystems (Nasdaq: PEGA) tumbled to fall short of expectations as operating expenses climbed.
While The New York Times (NYSE: NYT) swung to a profit for the first quarter, investors were disappointed by a greater than expected drop in advertising revenue.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 741.
