German Support Of Euro Zone Bailout Lifts Markets
The markets traded higher during the midday with the Dow gaining 22 points to 13,345 after Germany's Constitutional Court supported the latest euro zone bailout. Nasdaq rose 4 points to 3109.
On the upside
Office Depot (NYSE: ODP) announced that NASCAR driver Tony Stewart partnered with the Office Depot Foundation to donate 6,000 backpacks to children in the Chicagoland area.
Williams Financial upgraded PulteGroup (NYSE: PHM) to a Buy rating.
Thoma Bravo will take Mediware Information Systems (Nasdaq: MEDW) private in a deal valued at approximately $195 million.
On the downside
Globecomm Systems (Nasdaq: GCOM) reported sharply higher fourth quarter earnings but the company warned of lower earnings and revenue for fiscal 2013. Halcon Resources (NYSE: HK) announced a secondary offering of 35 million common shares.
Vanguard Natural Resources (NYSE: VNR) priced its public offering of 6 million common units at the discounted price of $27.51 per unit.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 844.
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