Despite weak consumer spending and soaring jobless claims, the markets climbed during the midday. The Dow gained 77 points to 12,520 while Nasdaq rose 12 points to 2361.
On the upside
Concur Technologies (Nasdaq: CNQR) impressed with first quarter earnings that surged nearly four times last year as usage of its on-demand services rose. The company also boosted its full year guidance.
Analysts upgraded Alliance Data Systems (NYSE: ADS) after the company reported fourt quarter earnings in line with expectations.
On the downside
Second quarter earnings for Accuray (Nasdaq: ARAY) fell short of expectations due to disappointing sales prompting the maker of the CyberKnife surgery system to cut its fiscal 2008 revenue guidance.
Harris Stratex Networks (Nasdaq: HSTX) reported a loss for the second quarter and lowered its full year outlook.
Although Cameron International (NYSE: CAM) posted higher fourth quarter results that beat expectations, the oil services company disappointed with a first quarter as well as full year outlook that fell short of estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 703.