Higher Close On Strong Chinese Exports
Rising Chinese exports lifted the markets to a higher close with the Dow climbing 80 points to 13,471. Nasdaq gained 15 points to 3121.
On the upside
Shares of Pacific Biosciences (Nasdaq: PACB) continued rising after the Food and Drug Administration announced yesterday that it would use the company's SMRT technology for the 100K Pathogen Genome Project.
Guggenheim Securities analyst Shing Yin wrote that MetroPCS (NYSE: PCS) and T-Mobile may acquire Leap Wireless (Nasdaq: LEAP) after completing their merger.
News that China's exports soared in December lifted shares of Chinese stocks Youku Tudou (NYSE: YOKU) and China Ming Yang Wind Power (NYSE: MY).
On the downside
Sequenom (Nasdaq: SQNM) extended its losses over competition concerns. DragonWave (Nasdaq: DRWI) widened third quarter losses more than expected despite higher revenue as gross margin dropped.
The Justice Department sued Bazaarvoice (Nasdaq: BV) alleging that the company's acquisition of PowerReviews violated antitrust laws.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index climbed 11 points to 1472.
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