Strong April Job Gains Lift Markets To Higher Open

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Strong job creation numbers in April lifted the markets to a sharply higher open with the Dow soaring 151 points 12,735. Nasdaq climbed 28 points to 2843.

On the upside

First quarter earnings for Sapient (Nasdaq: SAPE) nearly doubled to beat analyst expectations and the company forecast second quarter revenue ahead of estimates.

Warner Chilcott (Nasdaq: WCRX) widened first quarter losses but the results were better than expected.

A possible increase in power prices lifted shares of Korea Electric Power (NYSE: KEP).

On the downside

Obagi Medical Products (Nasdaq: OMPI) disappointed with a loss for the first quarter prompting a downgrade. 

BRE Properties (NYSE: BRE) priced its public offering of 8 million common shares at $48 per share.

Weight Watchers International (NYSE: WTW) reported sharply higher first quarter earnings that surpassed analyst expectations but the stock price dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 836.

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This page contains a single entry by published on May 6, 2011 6:45 AM.

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