The markets extended its gains during the midday with the Dow rising 34 points to 10,132. Nasdaq added 5 points to 2184.
On the upside
Private equity firm Onex offered approximately $4.38 billion in cash for Tomkins (NYSE: TKS).
Halliburton (NYSE: HAL) impressed with sharply higher second quarter earnings and revenue that easily topped analyst estimates.
Shares of for profit educators Corinthian Colleges (Nasdaq: COCO) and ITT Educational Services (NYSE: ESI) rose on rumors that the Department of Education's proposed post graduation gainful employment requirements for continued student loan funding will be less onerous than expected.
On the downside
Shares of Transocean (NYSE: RIG) fell over concerns of leakage from the capped oil well in the Gulf of Mexico.
Homebuilder sentiment plunged to weigh down shares of Hovnanian Enterprises (NYSE: HOV).
McMoRan Exploration (NYSE: MMR) narrowed losses for the second quarter but also cut its full year production guidance.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 609.
