Milder than expected inflation boosted the markets higher during the midday with the Dow surging 113 points to 12,945. Nasdaq leaped 24 points to 2519.
On the upside
Macy's (NYSE: M) lower sales for swinging to a first quarter loss but the results surpassed estimates and the department store operator affirmed its full year guidance.
Shares of Canadian Solar (Nasdaq: CSIQ) continued to rise after the company reported a first quarter earnings that beat estimates by a wide margin and forecast second quarter revenue ahead of expectations.
Uranium Resources (Nasdaq: URRE) widened first quarter losses as expenses rose. The company also announced plans to raise $14.3 million through a private placement offering.
On the downside
Sovereign Bank (NYSE: SOV) raised $500 million through the sale of 10-year subordinated notes.
Avondale analyst Daniel Mannes downgraded Darling International (NYSE: DAR) saying that the stock price is at a fair value.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 741.