Markets Advance At Midday

The markets advanced during the midday with the Dow gaining 63 points to 15,189. Nasdaq rose 18 points to 3778.

On the upside

SeeThruEquity initiated coverage of L&L Energy (Nasdaq: LLEN) with a price target of $5.43.

Infosys (NYSE: INFY) reported lower second quarter earnings but the results topped analyst estimates.

Oclaro (NYSE: OCLR) will sell its Amplifier and Micro-Optics business to II-VI Incorporated (Nasdaq: IIVI) for $88.6 million.

On the downside

The Food and Drug Administration issued a safety announcement cautioning doctors to carefully weigh the risks and benefits of Ariad Pharmaceuticals' (Nasdaq: ARIA) leukemia treatment Iclusig.

Micron Technology (Nasdaq: MU) reversed year ago losses to post a profit for the fourth quarter due to its acquisition of Elpida Memory but the results fell short of expectations prompting a downgrade.

Mad Money's Jim Cramer said to sell Acadia Pharmaceuticals (Nasdaq: ACAD).

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 added 5 points to 1698.

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