Mid-Day Report

Yahoo's efforts to partner with Google to boost its advertising revenue lifted the markets higher during the midday with the Dow climbing 97 points to 12,625. Nasdaq soared 36 points to 2358.

On the upside

The Defense Department approved Force Protection's (Nasdaq: FRPT) sale of 157 armored trucks to Britain and has notified Congress of the $125 million contract.

Fourth quarter earnings for Apogee (Nasdaq: APOG) soared to exceed analyst estimates and the glassmaker forecast 2008 results ahead of expectations.

Ikon Office Solutions (Nasdaq: IKN) lifted its second quarter outlook due to better than expected sales.

On the downside

Super Micro Computer (Nasdaq: SMCI) blamed the weak economy for lowering its third quarter revenue guidance.

Friedman Billings downgraded Pantry (Nasdaq: PTRY) after the convenience store operator warned of a second quarter loss amidst falling sales.

Tween Brands (NYSE: TWB) slashed its earnings outlook for the first quarter as sales fell short of estimates.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 11 points to 709.

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