Markets Rebound As Investors Snap Up Bargains

Bargain hunters lifted the markets to a sharply higher open after yesterday's huge sell-off with the Dow leaping 213 points to 11,023. Nasdaq jumped 70 points to 2427.

On the upside

Radian Group (NYSE: RDN) reported a drop in delinquent loans and $1 billion in new insurance for July.

iStar Financial (NYSE: SFI) will repurchase up to $65 million worth of common shares.

Mako Surgical (Nasdaq: MAKO) widened second quarter losses but revenue surged.

On the downside

Stereotaxis (Nasdaq: STXS) widened second quarter losses as revenue dropped, withdrew its outlook for the year and announced the resignation of chief financial officer Dan Johnston.

Limelight Networks (Nasdaq: LLNW) blamed increased expenses for widening second quarter losses more than expected and forecast current quarter results below estimates.

Second quarter earnings slipped for Fossil (Nasdaq: FOSL) and the fashion accessories maker forecast third quarter as well as full year results below expectations.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 2 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 668.