Aid Package For Greece Lifts Markets

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A $146.5 billion aid package for Greece eased bankruptcy concerns to lift the markets higher during the midday with the Dow leaping 164 points to 11,173. Nasdaq jumped 41 points to 2502.

On the upside

Preferred Bank (Nasdaq: PFBC) reversed year ago losses to post a first quarter profit.

Raptor Pharmaceutical (Nasdaq: RPTP) reported upbeat results from a midstage clinical trial of its liver disease treatment.

A chemical compound made by Nalco (NYSE: NLC) that breaks down oil is being tested on the Deepwater Horizon oil spill in the Gulf of Mexico.

On the downside

Gaylord Entertainment (NYSE: GET) blamed Tennessee floods for withdrawing its guidance for 2010.

Bank of Florida's (NYSE: BOFL) subsidiary banks have all failed to raise funds for adequate capitalization and face regulatory seizure.

Encore Energy Partners (NYSE: ENP) announced after market close on Friday that it was exploring the possible sale of the company.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 12 points to 729.

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This page contains a single entry by published on May 3, 2010 10:12 AM.

Unexpected Gain In Construction Spending Lifts Markets was the previous entry in this blog.

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