October 26, 2007 at 17:27 PM EDT
Markets Surge Over Strong Earnings
The markets surged to close sharply higher over strong earnings with the Dow leaping 135 points to 13,807. Nasdaq jumped 53 points to 2804.


On the upside

Strong demand for Deckers Outdoor's (Nasdaq: DECK) UGG shoes lifted third quarter earnings to beat expectations.

Evergreen Solar (Nasdaq: ESLR) credited its cost control initiatives for narrowing third quarter losses and expects to trim losses even further in the fourth quarter.

Analsyts upgraded DeVry (NYSE: DV) after the for profit education company reported higher first quarter earnings that surpassed expectations.

On the downside

Although Online Resources (Nasdaq: ORCC) reversed year ago losses to post a profit for the third quarter, the results fell far short of expectations.

Friedman Billings (NYSE: BBX) downgraded BankAtlantic Bancorp over the weak real estate market in Florida.

Franklin Resources (NYSE: BEN) reported higher fourth quarter earnings but the results fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 15 points to 821.

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