Markets Advance As Supreme Court Strikes Down Part Of Sarbanes-Oxley
The markets advanced during the midday with the Dow gaining 40 points to 10,184 after the Supreme Court struck down part of the Sarbanes-Oxley antifraud law. Nasdaq climbed 12 points to 2236.
On the upside
Aflac (NYSE: AFL) sold all of its holdings in Greek debt.
Genco (NYSE: GNK) announced on Friday that it would pay $545 million to purchase 16 Supramax dry bulk vessels.
Vishay Intertechnology (NYSE: VSH) will offer a new mid-range infrared sensor with both digital and analog outputs.
On the downside
Isle of Capri (Nasdaq: ISLE) will offer 9 million common shares.
Shares of Ford (NYSE: F) fell ahead of Tesla's IPO tomorrow.
Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Citigroup (NYSE: C) must all increase their capital levels under the Collins amendment ot the financial reform bill.
In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE while advancer barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 646.
