Greece Approves New Austerity Measures, Markets Advance
Greece approved more stringent austerity measures to lift the markets higher during the midday with the Dow gaining 63 points to 12,248. Nasdaq rose 9 points to 2738.
On the upside
Alanco Technologies (Nasdaq: ALAN) will merge with global mobile social networking company YuuZoo.
Spreadtrum Communications (Nasdaq: SPRD) declared a quarterly dividend of $0.05 per American Depositary Share payable on July 26, 2011 to shareholders of record July 11, 2011.
McMoRan (NYSE: MMR) reported that there was potential for large accumulations of hydrocarbons at deeper depths in the shallow waters of the Gulf of Mexico.
Jefferies downgraded Greenbrier (NYSE: GBX) to a Hold rating and cut its price target to $22 from $32.
Omnova Solutions (NYSE: OMN) reported lower second quarter earnings that fell short of analyst expectations.
Exfo (Nasdaq: AHT) swung to a profit for the third quarter but the results fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 820.
