Upbeat jobs data renewed faith in the economic recovery to spark a rally that sent the Dow rocketing 423 points to close at 11,143. Nasdaq surged 111 points to 2492.

On the upside

Bargain hunters snapped up shares of ReneSola (NYSE: SOL), whose shares tumbled after withdrawing its full year guidance on Tuesday.

Shares of Youku.com (NYSE: YOKU) recovered losses suffered after posting a second quarter loss on Monday.

Motley Fool wrote an article about Western Refining (NYSE: WNR) as part of its Rising Star series.

Bargain hunters lifted shares of Alliance HealthCare Services (NYSE: AIQ), whose stock price plummeted after reporting a second quarter loss on Monday.

On the downside

The Wall Street Journal reported that Sprint Nextel (NYSE: S) must pay down $2.3 billion in debt and make multi-billion dollar upgrades to its network.

OXiGENE (Nasdaq: OXGN) disappointed by swinging to a loss for the second quarter.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 35 points to 695.