Impressive Citigroup earnings lifted the markets higher during the midday with the Dow climbing 57 points to 11,119. Nasdaq edged up a point to 2470.
On the upside
Peregrine Pharmaceuticals (Nasdaq: PPHM) reported upbeat interim results from a Phase II clinical trial of its brain cancer treatment Cotara.
YRC Worldwide (Nasdaq: YRCWD) announced that third quarter losses will be narrower than last year.
Barron's analysts expect increased earnings and a higher stock price for Owens Illinois (NYSE: OI) as the business recovers.
On the downside
Shares of Ambac Financial (NYSE: ABK) fell as investors locked in profits.
Third quarter earnings for Philips Electronics (NYSE: PHG) tripled but the company cited an uncertain economic climate for issuing a cautious fourth quarter outlook.
H&R Block (NYSE: HRB) sued HSBC Bank for breaking its contract to provide H&R Block clients with instant tax refund anticipation loans and refund anticipation checks.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 705.
