Job Gains In April Lift Markets At Midday

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Investors welcomed upbeat April job gains data to lift the markets higher during the midday with the Dow climbing 67 points 12,651. Nasdaq gained 17 points to 2831.

On the upside

First quarter earnings surged for Power One (Nasdaq: PWER) as revenue soared.

Sequenom (Nasdaq: SQNM) narrowed first quarter losses as revenue rose and the company completed the sample testing phase of its SensiGene fetal Down syndrome blood test.

A Seeking Alpha article listed Endeavor Silver (NYSE: EXK) as one of seven profitable silver stocks.

On the downside

National Bank of Greece (NYSE: NBG) chief executive Apostolos Tamvakakis said that banks must merge in order to salvage the Greek banking system. 

Warnaco Group (NYSE: WRC) disappointed with lower first quarter earnings that fell short of analyst expectations.

Spreadtrum Communications (Nasdaq: SPRD) reported sharply higher first quarter earnings but gross margin slipped as research and development expenses climbed.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 835.

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This page contains a single entry by published on May 6, 2011 10:31 AM.

Strong April Job Gains Lift Markets To Higher Open was the previous entry in this blog.

Higher Close On Upbeat Jobs Data is the next entry in this blog.

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