Surge In Hiring Lifts Markets At Midday
Hiring in December surged unexpectedly to lift the markets higher during the midday with the Dow rising 32 points to 11,723. Nasdaq gained 13 points to 2694.
On the upside
Glu Mobile (Nasdaq: GLUU) partnered with Nvidia (Nasdaq: NVDA) to develop games for the Android platform.
Zalicus (Nasdaq: ZLCS) president and chief executive Mark H.N. Corrigan, MD will present at the Biotech Showcase 2011 Conference in San Francisco.
Dow Jones Newswires reported that American International Group (NYSE: AIG) may sell its Taiwan insurance unit Nan Shan Life Insurance for up to $3 billion.
On the downside
Trident Microsystems (Nasdaq: TRID) blamed weakness in television sales for lowering its fourth quarter revenue guidance.
Citi analysts lowered their 2010 as well as their 2011 earnings outlook for eHealth (Nasdaq: EHTH) and expects the online insurance agency to fall short in the fourth quarter.
Tasty Baking (Nasdaq: TSTY) retained the services of Janney Montgomery Scott to evaluate strategic options including the possible sale of the bakery.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 791.
