Fed Holds Interest Rates Steady, Markets Close Higher
Investors welcomed the Federal Reserve decision to hold interest rates steady. The markets close higher with the Dow rising 43 points to 10,685 while Nasdaq gained 15 points to 2378.

On the upside

A Wall Street Journal report of possible bank consolidations in Puerto Rico lifted shares of Popular (Nasdaq: BPOP).

CKX (Nasdaq: CKXE) narrowed fourth quarter losses as revenue surged.

The Food and Drug Administration approved Biolase Technology's (Nasdaq: BLTI) iLase handheld dental laser.

On the downside

City Bank (Nasdaq: CTBK) received a Corrective Action Directive from the Federal Deposit Insurance Corp. giving the bank thirty days to raise additional capital or sell itself.

Genpact (NYSE: G) announced the sale 28 million shares of common stock by shareholders prompting a downgrade.

Movado (NYSE: MOV) warned of wider than expected losses for the fourth quarter.

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