Sharply Higher Open Over Greek Austerity Measure Approval
The markets opened sharply higher with the Dow soaring 127 points to 12,389 after Greece approved new austerity measures yesterday. Nasdaq climbed 27 points to 2767.
On the upside
Best Buy (NYSE: BBY) will offer Hewlett-Packard's (NYSE: HPQ) HP Touchpad Wi-Fi version beginning Friday.
The Department of Energy will conditionally guarantee $4.5 billion in loans for three California projects being developed by First Solar (Nasdaq: FSLR).
Lloyds Banking Group (NYSE: LYB) will cut 15,000 jobs and reduce overseas operations in order to save approximately $2.4 billion annually.
Syntroleum (Nasdaq: SYNM) priced its public offering of 15.9 million common shares at $1.58 per share.
Six institutional investors will purchase $30 million worth of Cell Therapeutics (Nasdaq: CTIC) preferred stock and warrants.
Bank of America (NYSE: BAC) will eliminate 60 jobs from its equities division.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 826.
