Jump In Private Sector Employment Sends Stocks Soaring

The largest private sector employment gain in three years sent the markets soaring during the midday with the Dow jumping 246 points to 11,252. Nasdaq surged 53 points to 2551.

On the upside

Linktone (Nasdaq: LTON) reported lower third quarter earnings but revenue rose. 

BPZ Resources (NYSE: BPZ) announced that its CX-11 Corvina platform in Peru will begin commercial production.

The U. S. Chamber of Commerce awarded Navistar International (NYSE: NAV) its 2010 U. S. Community Service Award.

On the downside

While Sycamore Networks (Nasdaq: SCMR) narrowed first quarter losses, the result missed expectations by a wide margin prompting a downgrade. 

Seeking Alpha contributor Ben Axler questioned China Integrated Energy's (Nasdaq: CBEH) overly rosy financial reports for its biodiesel business.

Ixia (Nasdaq: XXIA) will offer $125 million in convertible senior notes.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 16 points to 743.