Falling oil prices lifted the markets higher during the midday with the Dow soaring 237 points to 12,981. Nasdaq jumped 40 points to 2581.

On the upside

AspenBio Pharma (Nasdaq: APPY) is pursuing regulatory approval to sell its appendicitis blood test AppyScore.

Directed Electronics (Nasdaq: DEIX) extended and enhanced its distribution agreement with Sirius Satellite Radio.

Punk Ziegel & Co. analyst Richard Bove upgraded Regions Financial (NYSE: RF) saying that earnings should rise in 2008 as well as 2009.

On the downside

Bare Escentuals (Nasdaq: BARE) announced that Diane Miles, its president of wholesale and international sales, resigned to pursue other interests.

Arbitron (NYSE: ARB) will delay the introduction of a new electronic radio audience measurement system in nine key cities after broadcaster protested that the data was not reliable.

Canadian Natural Resources (NYSE:CNQ) cited a new royalty system n the Province of Alberta as well as low commodity prices for forecasting lower natural gas production next year.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 744.