Markets Surge Over Fed's $600 Billion Plan

The markets surged to the highest close in two years with the Dow rocketing 219 points to 11,434 in response to the Fed's $600 billion stimulus plan. Nasdaq leaped 37 points to 2577.

On the upside

ION Geophysical (NYSE: IO) reversed year ago losses to post a profit for the third quarter as revenue climbed.

Sunrise Senior Living (NYSE: SRZ) swung to a third quarter profit on higher revenue. 

MasTec (NYSE: MTZ) reported higher third quarter earnings and lifted its full year outlook prompting an upgrade.

On the downside

UBS downgraded Corinthian Colleges (Nasdaq: COCO) to a Sell rating.

Third quarter earnings for Global Cash Access Holdings (NYSE: GCA) fell as revenue dropped.

Lumber Liquidators (NYSE: LL) blamed lower third quarter earnings that fell short of expectations on higher transportation expenses.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 18 points to 733.