Markets Open Higher As New Home Sales Rise


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.

About this Entry

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

China's Oil Consumption Drops, Markets Tumble was the previous entry in this blog.

Concerns Of Greek Debt Default Weighs Down Markets is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12