The markets closed higher with the Dow rising 38 points 12,394 as crude
oil supplies increased. Nasdaq gained 15 points to 2761.
On the upside
Proteostasis Therapeutics partnered with Elan (NYSE: ELN) to develop
disease modifying, small molecule drugs and diagnostics for treating
neurodegenerative disorders.
Stifel Nicolaus announced that OCZ Technology (Nasdaq: OCZ) won a Dell
design award for its VeloDrive.
Shares of Glu Mobile (NYSE: GLUU) rose on expectations that rival gaming
company Zynga will file for its inital public offering.
On the downside
Rising crude oil prices and the volcano eruption in Iceland weighed down
shares of Delta Air Lines (NYSE: DAL).
Suntech Power (NYSE: STP) reported higher first quarter earnings but the
company lowered its full year revenue guidance.
Frontline (NYSE: FRO) reported lower first quarter earnings as revenue
fell and warned of challenging market conditions.
In the broad market, advancing issues outpaced decliners by a margin of
nearly 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which
tracks small cap stocks soared 10 points to 820.
