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Gain In Consumer Confidence Lifts Markets

By: MarketMinute.com Market Updates

September 25, 2012 at 10:38 AM EDT

A greater than expected jump in consumer confidence lifted the markets to a higher open with the Dow rising 38 points to 13,598. Nasdaq gained 9 points to 3169.
On the upside
Sidewinder Drilling will pay a premium of approximately $139 million to acquire Union Drilling (Nasdaq: UDRL).
Bargain hunters lifted shares of Peregrine Pharmaceuticals (Nasdaq: PPHM) whose stock price plummeted yesterday after warning of discrepancies in a lung cancer drug trial.
Genetic Technologies (Nasdaq: GENE) received clearance to sell its breast cancer genetic test BREVAGen in Florida.
On the downside
Staples (Nasdaq: SPLS) will close approximately 60 stores worldwide and focus on its online business.
Odyssey Marine Exploration (Nasdaq: OMEX) blamed weather conditions for deferring recovery work on two shipwrecks until the second quarter of 2013.
Key Energy Services (NYSE: KEG) warned that third quarter revenue would fall short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 856.

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