Markets Advance As Commodity Prices Rise

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Rising commodity prices lifted shares of energy and mining stocks during the midday with the Dow climbing 72 points 12,710. Nasdaq gained 19 points to 2846.

On the upside

TechCrunch reported that Nuance Communications (Nasdaq: NUAN) and Apple (Nasdaq: AAPL) have engaged in discussions to explore a possible acquisition or partnership.

Bargain hunters lifted shares of SandRidge Energy (NYSE: SD), whose shares dropped last week after disappointing with a first quarter loss.

Hertz (NYSE: HTZ) increased its acquisition offer for Dollar Thrifty Automotive Group (NYSE: DTG) to approximately $2.25 billion in cash and stock.

On the downside

Mortgage bond investors are organizing efforts to force H&R Block (NYSE: HRB) to repurchase billions of dollars worth of bad mortgages. 

Thompson Creek Metals (NYSE: TC) will offer $300 million in senior unsecured notes.

Nexen (NYSE: NXY) announced that operations in Yemen have been suspended due to labor strikes by the Masila Labour Union.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 to 840.

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This page contains a single entry by published on May 9, 2011 9:47 AM.

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