November 01, 2012 at 14:01 PM EDT
Consumer Confidence Soars, Markets Surge
A sharp gain in consumer confidence to a four year high lifted the markets during the midday with the Dow surging 123 points to 13,220. Nasdaq leaped 37 points to 3014.
On the upside
Third quarter earnings surged for Wabash National (NYSE: WNC) as margins improved.
OCZ Technology Group (Nasdaq: OCZ) will present at the Piper Jaffray Technology, Media and Telecommunications Conference in New York on Wednesday, November 7, 2012.
Heartland Payment Systems (NYSE: HPY) reported higher third quarter earnings and revenue that surpassed analyst expectations. On the downside
Teradata (NYSE: TDC) reported higher third quarter earnings and revenue but revenue fell short of analyst expectations.
Zumiez (Nasdaq: ZUMZ) warned that third quarter revenue would fall short of expectations and cut its earnings guidance.
Greenbrier (NYSE: GBX) disappointed with sharply lower fourth quarter earnings that missed analyst expectations by a wide margin.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 824.
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