Gain In Ifo Index Boosts Markets
An unexpected gain in Germany's Ifo Business Climate index sent the markets soaring to a sharply higher close on a shortened holiday trading session with the Dow leaping 172 points to 13,009. Nasdaq soared 40 points to 2966.
On the upside
A Seeking Alpha contributor expects Rosetta Genomics' (Nasdaq: ROSG) stock price to soar to $20 per share in two years.
Indications that the manufacturing industry in China expanded for the first time in 13 months lifted shares of e-Commerce China Dangdang (NYSE: DANG).
The Food and Drug Administration accepted MAP Pharmaceuticals' (Nasdaq: MAPP) New Drug Application resubmission for inhaled migraine treatment Levadex.
On the downside
Electrobas (NYSE: EBR) extended its losses over concerns that rate cuts and hydroelectric dam concessions will hurt revenue.
The Securities and Exchange Commission launched an investigation into OCZ Technology (NYSE: OCZ).
Profit taking sank shares of Dynavax Technologies (Nasdaq: DVAX).
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by a margin of 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 8 points to 807.
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