Higher Close Even As Oil Prices Rise
The markets closed higher with the Dow climbing 81 points to 12,279 even as oil prices climbed over concerns of political unrest in the Middle East. Nasdaq gained 26 points to 2756.
On the upside
Active Power (Nasdaq: ACPW) will offer a lifetime warranty for all of the company's CleanSource Uninterrupted Power Supply products purchased beginning April 1, 2011.
Seeking Alpha contributor Engineer Broker wrote that Molycorp (NYSE: MCP) may increase production by as much as 33% in 2011.
German business newspaper Handelsblatt reported that Bertelsmann AG and KKR & Co. will make an offer to purchase Warner Music Group (NYSE: WMG).
On the downside
A123 Systems (Nasdaq: AONE) lowered its first quarter revenue guidance saying that one of their Japanese suppliers has suspended operations in the aftermath of the devastating earthquake and tsunami.
Investors locked in profits on Eastman Kodak (NYSE: EK), whose shares surged the last two days after the International Trade Commission agreed to review a patent suit the company filed against Apple (Nasdaq: AAPL) and Research In Motion (Nasdaq: RIMM).
Altair Nanotechnologies (Nasdaq: ALTI) will sell common stock and warrants to institutional investors to raise approximately $6.4 million.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 829.
