Goldman Sachs Settlement Rumors Lift Markets


Rumors that Goldman Sachs is close to finalizing a settlement with the Securities and Exchange Commission lifted the markets higher during the midday with the Dow climbing 80 points to 10,135. Nasdaq soared 22 points to 2226.

On the upside

Keryx Biopharmaceuticals (Nasdaq: KERX) reported promising results from a midstage trial of its colorectal cancer treatment perifosine.

Fourth quarter earnings for Compuware (Nasdaq: CPWR) slipped but full year results rose.

Marvell Technology (Nasdaq: MRVL) reversed year ago losses to post a better than expected profit for the first quarter.

All Things Digital reported that Yahoo (Nasdaq: YHOO) will partner with Nokia (NYSE: NOK) to develop a phone using Yahoo applications.

On the downside

Brocade Communications (Nasdaq: BRCD) swung to a second quarter profit but revenue missed estimates.

First quarter earnings rose for Dell (Nasdaq: DELL) gross margin fell.

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 climbed 8 points to 648.

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This page contains a single entry by published on May 21, 2010 9:54 AM.

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