Upbeat Retail Sales Lift Markets

Retail sales rose more than expected in May to lift the markets during the midday with the Dow gaining 54 points to 15,049. Nasdaq climbed 13 points to 3414.

On the upside

Shares of Myriad Genetics (NYSE: MYGN) climbed after the Supreme Court ruled that naturally occurring DNA cannot be patented but synthetic genetic material, cDNA, would be eligible for patents.

Canaccord Genuity analyst Mike Walkley upgraded Spreadtrum Communications (Nasdaq: SPRD) to a Buy rating from a Hold rating.

Alcatel-Lucent (NYSE: ALU) expects to receive $763,828,000 from the sale of convertible senior notes.


On the downside


Shares of Barnes & Noble (NYSE: BKS) fell after Apple (Nasdaq: AAPL) revealed that it holds approximately 20% of the ebook market, twice the expected market share.


Dynavax Technologies (Nasdaq: DVAX) extended its losses after the Food and Drug Administration requested an additional safety study for its hepatitis B vaccine on Monday.


Profit taking sank shares of Live Nation (NYSE: LYV).

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index gained 7 points to 1619.

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