Higher Close As Commodities Fall


The markets advanced to close higher with the Dow gaining 65 points 12,695 as foreclosure rates slowed and commodities fell. Nasdaq climbed 17 points to 2863.

On the upside

A study in the June edition of Obstetrics and Gynecology reported that using Vermillion's (Nasdaq: VRML) OVA1 blood test more accurately identified cancerous ovarian masses in women than the currently recommended CA 125 blood test.

Sunesis Pharmaceuticals (Nasdaq: SNSS) reversed year ago losses to post a profit for the first quarter.

Kemet (NYSE: KEM) reported sharply higher fourth quarter earnings as revenue climbed.

On the downside

Penson Worldwide (Nasdaq: PNSN) board member Thomas R. Johnson resigned after the revelation of a conflict of interest. 

The Department of Justice filed an antitrust suit to prevent Verifone System's (NYSE: PAY) acquisition of rival Hypercom (NYSE: HYC).

Flotek Industries (NYSE: FTK) reversed year ago losses to post a profit for the first quarter and announced a private placement of approximately 3.665 million common shares.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 847.

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This page contains a single entry by published on May 12, 2011 1:38 PM.

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