June 19, 2008 at 18:57 PM EDT
Closing Bell Report

China's announcement of an 18% increase in fuel prices sent oil prices tumbling to lift the market to a modestly higher close with the Dow adding 34 points to 12,063. Nasdaq surged 32 points to 2462.

On the upside

In response to record fuel expenses, UAL Corp. (Nasdaq: UAUA) and Continental Airlines (NYSE: CAL) announced an initiative for global cooperation.

A lawsuit has been filed by 28 airline passengers to block to proposed merger between Delta Air Lines (NYSE: DAL) and Northwest Airlines (NYSE: NWA).

Cott (NYSE: COT) announced a restructuring plan to reduce costs by eliminating jobs while developing its private label soda business.

On the downside

BluePhoenix Solutions (Nasdaq: BPHX) forecast second quarter results below expectations.

Coventry Health Care (NYSE: CVH) blamed higher expenses for lowering its second quarter as well as its full year outlook prompting a downgrade.

Standard & Poor's Ratings Services downgraded WellCare Health Plans' (NYSE: WCG) counterparty credit rating saying that the company's surplus funds were lower than expected.

In the broad market, declining issues barely edged out advancers on the NYSE while advancers outpaced decliners by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 738.

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