Closing Bell Report

Falling oil prices along with an overhaul of the nation's financial regulatory system lifted the markets to a higher close with the Dow gaining 46 points to 12,263. Nasdaq climbed 18 points to 2279.

On the upside

The Illinois Appellate court affirmed a ruling by the Circuit Court of Cook County, Illinois that bars Sprint from owning, operating and managing its Nextel network in iPCS Wireless' (Nasdaq: IPCS) territory.

Generic drug maker Bentley Pharmaceuticals (NYSE: BNT) will be acquired by Teva Pharmaceuticals (Nasdaq: TEVA) for $360 million in cash.

On the first day of Giant Interactive Group's (NYSE: GA) open beta testing of its new game "Giant Online" the online gaming company reported 237,686 peak concurrent users.

On the downside

VCG Holding (Nasdaq: VCGH) received its license for the acquisition of the adult nightclub Jaguar's Gold and expects to complete the acquisition on April 14, 2008.

Pall (NYSE: PLL) forecast full year results below analyst estimates.

Thornburg Mortgage (NYSE: TMA) received another extension to raise $948 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 688.

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