Drop In Jobless Claims Lifts Markets
The markets advanced during the midday with the Dow gaining 58 points to 13,471 as jobless claims dropped last week. Nasdaq climbed 32 points to 3126.
On the upside
StemCells (Nasdaq: STEM) enrolled its first patient with an incomplete spinal cord injury in a Phase I/II clinical trial and translated neural stem cells in the patient.
Discover Financial Services (NYSE: DFS) reported lower third quarter earnings but the results surpassed analyst expectations.
Third quarter earnings slipped for Progress Software (Nasdaq: PRGS) but the results beat expectations.
On the downside
Cepheid (Nasdaq: CPHD) warned that third quarter revenue will miss expectations.
H.B. Fuller (NYSE: FUL) reported higher third quarter earnings but the specialty chemicals company lowered its revenue guidance for the full year.
United Continental (NYSE: UAL) warned that passenger revenue will drop in the third quarter.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 841.
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