Markets Open Higher As New Home Sales Rise

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New home sales rose in April to lift the markets to a higher open with the Dow rising 24 points 12,406. Nasdaq gained 5 points to 2764.

On the upside

Sify Technologies (Nasdaq: SIFY) partnered with Deutsche Telekom International Carrier Sales & Solutions to provide IP and VPN services in India and Europe.

GT Solar (Nasdaq: SOLR) reported higher fourth quarter earnings that beat analyst expectations and lifted its 2012 guidance.

El Paso (NYSE: EP) announced plans to spin off its exploration and production division into a separate publicly traded company headed by current unit president Brent Smolik.

On the downside

Identive Group (Nasdaq: INVE) priced its public offering of more than 7.8 million common shares at $2.55 per share. 

Medtronic (NYSE: MDT) disappointed with lower fourth quarter earnings that missed analyst expectations and forecast 2012 results below estimates.

Investors locked in profits on Cell Therapeutics (Nasdaq: CTICD) whose shares climbed yesterday on news that the company will meet with the Food and Drug Administration to discuss resubmitting a New Drug Application for the company's non-Hodgkins lymphoma treatment pixantrone.

In the broad market, advancing issues outpaced decliners by margin of nearly 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 815.

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This page contains a single entry by published on May 24, 2011 6:36 AM.

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