Sequester Impact Barely Felt, Markets Close Higher

The markets closed higher with the Dow gaining 50 points to 14,447 as investors barely felt the impact of mandatory federal budget cuts that began this month. Nasdaq rose 8 points to 3252.

On the upside

A Seeking Alpha contributor expects China Auto Logistics (Nasdaq: CALI) to soar in March.

Shares of MannKind (Nasdaq: MNKD) continued rising after a Seeking Alpha contributor wrote last week that the biopharmaceutical had the potential to be the best performing stock of the year.

Tetra Technologies (NYSE: TTI) chief financial officer Elijio V. Serrano purchased 11,000 shares of company stock.

On the downside

Profit taking sank shares of BRF - Brasil Foods (NYSE: BRFS).

Concerns that the European Commission may impose retroactive duties on solar products from China sank shares of LDK Solar (NYSE: LDK) and Yingli Green Energy (NYSE: YGE).

Endeavour International (NYSE: END) announced the unregistered sale of equity securities.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index rose 5 points to 1556.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here