Markets Advance On Earnings News

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Upbeat earnings lifted the markets during the midday with the Dow rising 25 points 12,504. Nasdaq gained 16 points to 2799.

On the upside

CBS (NYSE: CBS) announced that three new dramas and two comedies will be added to the television network's fall schedule.

Second quarter earnings climbed for Analog Devices (NYSE: ADI) as revenue rose and the chip maker increased its quarterly dividend.

Leeds Equity Partners will acquire Nobel Learning Communities (Nasdaq: NLCI) in a deal valued at approximately $149 million.

On the downside

Hershey (NYSE: HSY) announced the departure of chief executive David West. 

Coldwater Creek (Nasdaq: CWTR) blamed disappointing sales for warning of much wider than expected losses for the first quarter.

Aflac (NYSE: AFL) recorded losses of $77 million from the sale of its holdings in Irish Life & Permanent and Republic of Tunisia.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 823.

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This page contains a single entry by published on May 18, 2011 9:34 AM.

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