Markets Climb As Factory Orders Jump Unexpectedly
An unexpected 2.4% jump in June factory orders lifted the markets during the midday with the Dow climbing 80
points to 11,640. Nasdaq gained 9
points to
2586.
Openwave Systems (Nasdaq: OPWV) filed a complaint with the International Trade Commission alleging that Apple (Nasdaq: AAPL) and Research in Motion (Nasdaq: RIMM) infringed on its patents.
Shares of Sprint (NYSE: S) climbed after the Department of Justice filed a federal suit to block AT&T's (NYSE: T) proposed $39 billion acquisition of T-Mobile.
Stereotaxis (Nasdaq: STXS) reported upbeat trial results for its Robotic Ablation System to treat ventricular tachycardia.
On the downside
Zale (NYSE: ZLC) widened fourth quarter losses due to inventory charges.
OMNOVA Solutions (NYSE: OMN) blamed the global economic downturn for cutting its 2011 full year earnings outlook.
Billionaire investor Carl Icahn will sell his entire stake in Lions Gate Entertainment (Nasdaq: LGF).
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 731.
