Upbeat Economic Data From China Lifts Markets
Reports that China's consumer price index and producer price index rose lifted domestic markets to a sharply higher close with the Dow leaping 123 points to 12,076. Nasdaq surged 39 points to 2678.
On the upside
Office Depot (NYSE: ODP) began taking pre-sale orders for the Toshiba Thrive Tablet today with delivery beginning on July 10.
A report that the Food and Drug Administration will not recommend a ban on menthol cigarettes as originally feared lifted shares of Lorillard (NYSE: LO).
RiT Technologies (Nasdaq: RITT) partnered with Samsung Fiber Optics to market, sell and distribute RiT's PatchView intelligent infrastructure management solution.
On the downside
PURE Bioscience (Nasdaq: PURE) widened third quarter losses.
JP Morgan analyst Rod Hall lowered his revenue and earnings outlook for Research in Motion (Nasdaq: RIMM) saying that the company will delay the launch of its BlackBerry Bold 9900.
Sanford C. Bernstein analyst John McDonald said in a research note that Bank of America (NYSE: BAC) could potentially report up to $27 billion in mortgage related losses from now until 2013.
