Record Exports Lift Markets To Higher Close
The markets closed higher with the Dow gaining 75 points to 12,124 as the nation's exports climbed to a record high in April. Nasdaq rose 9 points to 2684.
On the upside
First quarter earnings for Titan Machinery (Nasdaq: TITN) surged more than fourfold to beat analyst expectations by a wide margin prompting the company to lift its full year outlook.
Tempur Pedic (NYSE: TPX) expects operating margin to be greater than 25%.
GMX Resources (NYSE: GMXR) declared a quarterly dividend of $0.578125 per share payable on June 30, 2011 to holders of the company's 9.25% Series B preferred stock on June 20, 2011.
On the downside
Stricter margin requirements for Chinese stocks weighed down shares of E-Commerce China Dangdang (NYSE: DANG).
Motley Fool suggested that the stock price of IMAX (NYSE: IMAX) is too high.
General Maritime (NYSE: GMR) signed agreements with Jefferies & Co. and Dahlman Rose & Co. to sell up to $50 million worth of common stock .
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 792.
