Higher Close On Strong Housing Data

Strong housing data boosted the markets to a sharply higher close with the Dow surging 100 points to 14,760. Nasdaq climbed 27 points to 3347.

On the upside

Allot Communications (Nasdaq: ALLT) received new orders from three tier one operators.

Standpoint Research initiated coverage of YRC Worldwide (Nasdaq: YRCW) with a Buy rating.

UBS analyst Steve Milunovich affirmed his Buy rating and $19 price target for Fuison-IO (NYSE: FIO).

On the downside

American Vanguard (NYSE: AVD) warned that second quarter earnings may fall short of analyst expectations due to inclement weather prompting a downgrade.

The City of New York will audit the billing practices of Navigant Consulting (NYSE: NCI).

Infinity Pharmaceuticals (Nasdaq: INFI) reported upbeat results from a Phase 1 study of IPI-145 in treating a broad range of blood cancers but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE by nearly 5 to 2 on Nasdaq. The broader S&P 500 index climbed 14 points to 1588.

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