Markets Extend Gains At Midday

The markets extended its gains during the midday with the Dow soaring 116 points to 9860 as credit card delinquencies fell. Nasdaq climbed 23 points to 2116.

On the upside

The AES Corp. (NYSE: AES) will repurchase up to $500 million worth of common stock.

US Airways Group (NYSE: LCC) reported a 2.9% increase in June traffic.

Vishay Intertechnology (NYSE: VSH) completed its spin-off of Vishay Precision Group (NYSE: VPG).

On the downside

FTI Consulting (NYSE: FCN) warned of lower second quarter earnings that will fall short of expectations and cut its full year guidance prompting a downgrade.

Although Family Dollar Stores (NYSE: FDO) reported higher third quarter earnings, the discount retail chain forecast fourth quarter results below estimates.

NexMed (Nasdaq: NEXMD) regained compliance for listing on Nasdaq but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased climbed 7 points to 597.