Higher Close As Commodities Fall

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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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