Retreating oil prices along with the Fed's announcement yesterday to infuse the financial markets with $200 billion lifted the markets higher during the midday with the Dow gaining 89 points to 12,246. Nasdaq climbed 16 points to 2271.
On the upside
Third Wave Technologies (Nasdaq: TWTI) reported positive results for its human papillomavirus test.
Bear Stearns analyst David Hochstim upgraded Thornburg Mortgage (NYSE: TMA) saying that the Fed's plan to pump $200 billion into the financial markets improves Thornburg's liquidity.
The Treasury Department approved Capital One's (NYSE: COF) request to open two new bank branches in Texas.
On the downside
DivX (Nasdaq: DIVX) blamed one time charges for sharply lower fourth quarter earnings and forecast first quarter as well as full year results below estimates.
Immucor's (Nasdaq: BLUD) $117 million cash acquisition of BioArray will result in a 20 cents per share charge beginning in 2009 and could continue for a few more years.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 679.