Markets Surge On Upbeat Jobs Data
A greater than expected number of jobs were added to the economy last month to boost the markets to a sharply higher close with the Dow jumping 217 points to 13,096. Nasdaq surged 58 points to 2967.
On the upside
MasTec (NYSE: MTZ) reported lower second quarter earnings but the results topped analyst estimates and the company lifted its full year guidance.
Second quarter earnings climbed for MercadoLibre (Nasdaq: MELI) to surpass analyst expectations by a wide margin.
Sequenom's (Nasdaq: SQNM) chief executive officer, chief financial officer and an executive vice president all purchased shares in the company on Wednesday, August 1.
On the downside
Southwestern Energy (NYSE: SWN) fell to a greater than expected second quarter loss as revenue dropped. Cardinal Health (NYSE: CAH) reported higher fourth quarter earnings but revenue missed expectations.
Second quarter earnings tumbled for WellCare (NYSE: WCG) and the managed care provider forecast full year revenue below estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 19 points to 788.
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