Group Of 20 Affirms Support Of Global Economy, Markets Close Higher
The markets closed modestly higher with the Dow gaining 37 points to 10,771 as the Group of 20 affirmed their support of efforts to stabilize the precarious global economy. Nasdaq climbed 27 points to 2483.
On the upside
Aruba Networks (Nasdaq: ARUN) director Douglas M. Leone purchased $7.1 million worth of company stock.
Susquehanna International Group analyst Ming Zhao upgraded Youku.com (NYSE: YOKU) to a Positive rating.
MannKind (Nasdaq: MNKD) will sell approximately $370 million in senior secured discount notes.
On the downside
EnteroMedics (Nasdaq: ETRM) priced its offering of 8.8 million common shares and warrants to purchase 1.76 million common shares at $1.65 per unit.
Christopher & Banks (NYSE: CBK) warned of wider than expected losses for the second quarter after reporting a sharp 8% drop in same store sales.
Analysts question whether Meg Whitman will be able to turn around Hewlett-Packard (NYSE: HPQ).
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 652.
