Rebounding European Markets Lift US Markets Higher
A rebound in European markets restored investor confidence to lift the markets to a higher open with the Dow climbing 97 points to 10,288. Nasdaq gained 28 points to 2272.
On the upside
Zanett (Nasdaq: ZANE) reported that it has closed more than $12.6 million in new contracts in the second quarter and more than $29.7 million in new contracts year-to-date.
KornFerry International (NYSE: KFY) reversed year ago losses to post a profit for the fourth quarter.
Ram Energy Resources (Nasdaq: RAME) retained the services of Jefferies & Co. to explore strategic options including the possible sale of the company.
On the downside
Smart Balance (Nasdaq: SMBL) blamed the economy for cutting its sales outlook for 2010.
Capstone Turbine (Nasdaq: CPST) disappointed by widening fourth quarter losses as expenses rose.
First quarter earnings for Best Buy (NYSE: BBY) fell far short of analyst estimates.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 656.
