Surge In Pending Home Sales Boosts Markets
A larger than expected jump in pending home sales boosted the markets higher during the midday with the Dow soaring 127 points to 10,151. Nasdaq surged 37 points to 2260.
On the upside
US Airways (NYSE: LCC) launched new daily services from Charlotte to Ottawa, Ontario, from Philadephia to Halifax, Nova Scotia, and from Philadelphia to Anchorage, Alaska.
The Food and Drug Administration approved Amgen's (Nasdaq: AMGN) osteoporosis treatment Prolia.
Halliburton (NYSE: HAL) will relocate equipment and employees from the Gulf of Mexico area to other parts of the country after the federal government banned deepwater drilling for six months.
On the downside
Collective Brands (NYSE: PSS) reported higher first quarter earnings that topped estimates but revenue dropped.
ArcSight (Nasdaq: ARST) chief executive Tom Reilly and chief financial officer Stewart Grierson will present at the William Blair & Co.'s 30th Annual Growth Stock Conference.
Penn Virginia GP Holdings (NYSE: PVG) priced its secondary offering of approximately 8.8 million common units at $16.08 per unit.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 651.
