A $3 billion consolidation deal between United and Continental Airlines boosted investor enthusiasm lifting the markets to a sharply higher close with the Dow soaring 143 points to 11,151. Nasdaq surged 37 points to 2498.
On the upside
New York Stock Exchange notified Ambac Financial (NYSE: ABK) that it regained compliance with the minimum listing requirement of $1.00 per share.
Administaff (NYSE: ASF) surprised with a first quarter profit.
Seanergy Maritime (Nasdaq: SHIP) signed a letter of intent to acquire a 51% interest in Maritime Capital Shipping.
On the downside
CapitalSource (NYSE: CSE) widened first quarter losses more than expected as loan loss provisions climbed.
Smithtown Bancorp (Nasdaq: SMTB) disappointed with a loss for the first quarter.
Agilysys (Nasdaq: AGYS) lowered its sales outlook for the fourth quarter.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 16 points to 732.
