Markets Extend Gains As Jobless Claims Drop

The markets extended its gains during the midday with the Dow climbing 87 points to 14,763 as jobless claims fell more than expected. Nasdaq gained 29 points to 3298.

On the upside

Akamai Technologies (Nasdaq: AKAM) reported higher first quarter earnings and revenue that beat analyst expectations prompting an upgrade.

Fusion-io (NYSE: FIO) widened third quarter losses but the storage memory developer forecast current quarter revenue above expectations.

Angie's List (Nasdaq: ANGI) narrowed first quarter losses more than expected as revenue soared.

On the downside

The California Department of Toxic Substances Control ordered Exide Technologies (Nasdaq: XIDE) to suspend operations at its secondary lead recycling facility in Vernon, California for failing to comply with health risk standards.

A Seeking Alpha contributor wrote that Whiting USA Trust (NYSE: WHX) was significantly overvalued.

Qualcomm (Nasdaq: QCOM) disappointed with lower second quarter earnings.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index gained 9 points to 1588.

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