Possible Greek Financial Deal Lifts Markets At Midday

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The markets traded higher during the midday with the Dow gaining 63 points to 12,505 as European leaders moved closer to finalizing another financial package for Greece. Nasdaq climbed 19 points to 2816.

On the upside

MicroStockProfit.com named FiberTower (Nasdaq: FTWR) it's focus stock for today and issued an investment report on the provider of facilities-based backhaul services to wireless carriers.

Shares of LDK Solar (NYSE: LDK) and Yingli Green Energy (NYSE: YGE) rose after Germany announced that it will shutter all nuclear reactors by 2022 and focus on developing wind and solar power.

Ashland (NYSE: ASH) will acquire International Specialty Products for approximately $3.2 billion in cash.

On the downside

Shares of three dimensional technologies company RealD (NYSE: RLD) tumbled as ticket sales for the regular 2D version of Kung Fu Panda 2 outpaced 3D ticket sales highlighting the declining box office share of 3D movies.  

The Biomedical Advanced Research and Development Authority of the Department of Health and Human Services requested clarification of Cleveland BioLabs' (Nasdaq: CBLI) development path for its Acute Radiation Syndrome treatment CBLB502 before engaging in further contract negotiations for funding.

Germany's announcement that it will stop all use of nuclear power by 2022 weighed down shares of Cameco (NYSE: CCJ) Uranium Resources (Nasdaq: URRE).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 842.

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This page contains a single entry by published on May 31, 2011 10:10 AM.

Second Bailout For Greece, Markets Open Higher was the previous entry in this blog.

Markets Surge In Late Afternoon Trading is the next entry in this blog.

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