Mid-Day Report

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

Jefferies & Co. analyst Paul Clegg upgraded Evergreen Solar (Nasdaq: ESLR) saying that the company is expected to grow in the next few years.

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.

On the downside

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.

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.
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