Gain In New Home Sales Lifts Markets To Higher Open

July 26, 2010 6:55 AM |

New home sales climbed last month to lift the markets to a higher open with the Dow gaining 59 points to 10,484. Nasdaq rose 10 points to 2280.

On the upside

Onyx Pharmaceuticals (Nasdaq: ONXX) reported positive results from a Phase 2b clinical trial of its multiple myeloma treatment carfilzomib.

Barclays Capital analyst Vishal Shah upgraded A123 Systems (Nasdaq: AONE) and lifted his price target on the company to $16 from $14.

FedEx (NYSE: FDX) raised its earnings guidance for the first quarter as well as the full year.

On the downside

Goldman Sachs added Chico's FAS (NYSE: CHS) to its conviction sell list.

Second quarter earnings for FMC Technologies (NYSE: FTI) dropped as revenue fell.

Shares of LM Ericsson (Nasdaq: ERIC) continued to fall after reporting last week that second quarter earnings missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 656.

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This page contains a single entry by published on July 26, 2010 6:55 AM.

Upbeat European Bank Stress Test Results Lift Markets To Higher Close was the previous entry in this blog.

Greater Than Expected Gain In New Home Sales Lifts Markets is the next entry in this blog.

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