Dow Advances Further Into Record Territory

The markets advanced further into record territory during the midday with the Dow rising 10 points to 15,066 on upbeat earnings. Nasdaq gained 12 points to 3409.

On the upside

A Seeking Alpha contributor expects Affymax (Nasdaq: AFFY) to return OMONTYS to the market this year after successfully addressing adverse patient reactions.

Whole Foods Market (Nasdaq: WFMA) reported higher second quarter earnings and revenue prompting the company to lift its full year earnings guidance.

J.C. Penney (NYSE: JCP) reported that it spent less cash than expected in the first quarter.

On the downside

Axiall (NYSE: AXLL) disappointed by falling to an unexpected loss for the first quarter.

Oclaro (Nasdaq: OCLR) blamed continued softness in the telecommunications market for widening third quarter losses.

Concerns that the Food and Drug Administration may approve a generic version of Jazz Pharmaceuticals' (Nasdaq: JAZZ) narcolepsy medication Xyrem sank shares of the specialty biopharmaceutical.

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 broader S&P 500 index rose 3 points to 1629.

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