Markets Surge Over Manufacturing Activity Expansion
The markets surged to close sharply higher with the
Dow jumping 168 points to 12,582 as manufacturing activity expanded in June. Nasdaq leaped 42
points to 2816.
On the upside
Fourth quarter earnings slipped for Smith & Wesson (Nasdaq: SWHC) due to charges but revenue rose and the results surpassed analyst expectations.
CalAmp (Nasdaq: CAMP) swung to a profit for the first quarter.
BMO Capital Markets initiated coverage of Freescale Semiconductor (NYSE: FSL) with an Outperform rating.
Celsion (Nasdaq: CLSN) will sell $6.6 million worth of company stock in a registered direct offering to institutional investors.
Profit takers continued to weigh down shares of Alanco Technologies (Nasdaq: ALAN), whose merger announcement on Wednesday sent the stock price soaring.
Vimicro International (Nasdaq: VIMC) widened fourth quarter losses.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 12 points to 840.
