Upbeat Manufacturing Data Boosts Markets
The first expansion of manufacturing activity in four months sent the markets soaring during the midday with the Dow surging 130 points to 13,567. Nasdaq added 3 points to 3120.
On the upside
Nokia (NYSE: NOK) will provide maps and location based services to Oracle's (Nasdaq: ORCL) clients.
Delta Air Lines (NYSE: DAL) will bring back flights between Pittsburgh and Paris for one year in 2013.
FONAR (Nasdaq: FONR) reported sharply higher earnings for fiscal 2012 compared with fiscal 2011.
On the downside
Concerns arose over the effectiveness of Threshold Pharmaceuticals' (Nasdaq: THLD) pancreatic cancer treatment TH-302.
Standard & Poor's lifted its corporate credit rating on Pentair (NYSE: PNR) to BBB from BBB- but the stock price fell.
EdR (NYSE: EDR) reported that same-community opening occupancy rate for 2013-2013 dropped to 90.5% from 94.7% the previous year.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 838.
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