March 31, 2008 at 13:36 PM EDT
Mid-Day Report

The markets traded higher during the midday after the federal government announced an overhaul of the nation's financial regulatory system. The Dow soared 99 points to 12,315 while Nasdaq jumped 26 points to 2287.

On the upside

Ansys (Nasdaq: ANSS) will purchase Ansoft (Nasdaq: ANST) in a cash and stock deal valued at approximately $832 million.

Rowan (NYSE: RDC) will either sell or spin-off its LeTourneau Technologies unit.

Vertex Pharmaceuticals (Nasdaq: VRTX) reported positive results in a midstage clinical trial of its cystic fibrosis treatment VX-770 last week.

On the downside

Shares of FairPoint Communications (NYSE: FRP) tumbled after the company completed its acquistion of Verizon's landline business and Internet operations in New England.

Piper Jaffray analyst Charles J. Fishman downgraded Gushan Environmental Energy (NYSE: GU) over valuation concerns.

Ampex (Nasdaq: AMPX) filed for Chapter 11 bankruptcy protection.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 693.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here