Closing Bell Report

Upbeat earnings news along with a surge in consumer spending boosted the markets to a higher close with the Dow jumping 205 points to 13,451. Nasdaq leaped 51 points to 2692.

On the upside

ParkerVision (Nasdaq: PRKR) will license its d2p RF transmit and receive technologies to an unnamed company in a deal worth up to $10 million.

Champion Enterprises (NYSE: CHB) will acquire Canadian modular home builder SRI Homes for approximately $113.9 million.

Red Hat (NYSE: RHT) named James Whitehurst to the position of CEO and reported higher third quarter earnings.

On the downside

Palomar Medical Technologies (Nasdaq: PMTI) may terminate its exclusive partnership with Proctor & Gamble (NYSE: PG) to market a light based hair removal device.

The Vermont Public Service Board rejected FairPoint Communications' (NYSE: FRP) $2.7 billion offer to purchase land lines owned by Verizon Communications (NYSE: VZ).

Micron Technology (NYSE: MU) swung to a first quarter loss demand fell and chip prices dropped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by a margin of more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 18 points to 786.

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