Greece Expected To Adopt Austerity Plan, Markets Soar
Expectations that Greece will approve an austerity plan lifted the markets to a sharply higher open with the Dow soaring 111 points to 12,155. Nasdaq climbed 24 points to 2712.
On the upside
Youku.com (NYSE: YOKU) launched Youku Premium which will offer 400 to 450 Warner Bros. New Releases and Catalog titles in addition to its current content library of more than 300 movies and 3,880 educational programs.
Accenture (NYSE: ACN) will replace Marshall & Ilsley (NYSE: MI) on the S&P 500 after market close July 5. Marshall & Ilsley will be acquired by the Bank of Montreal (NYSE: BMO).
Canaccord Genuity analyst Bobby Burleson upgraded OmniVision Technologies (Nasdaq: OVTI) to a Buy rating and lifted his price target from $33 to $38 citing strong momentum for the third quarter.
Enbridge Energy Partners (NYSE: EEP) priced its public offering of 7 million common units at $30 per unit.
The New York Appeals Court will allow a lawsuit filed by Bank of America (NYSE: BAC), Wells Fargo (NYSE: WFC) and other large banks challenging the restructuring of MBIA (NYSE: MBI) to proceed.
Investors locked in profits on YRC Worldwide (Nasdaq: YRCW), whose shares surged yesterday on news that AYM Capital purchased shares in the transportation services company.
