Modest Gain In Durable Goods Orders Lifts Markets

The markets closed higher with the Dow gaining 53 points to 10,520 on a shortened Christmas Eve trading day as durable goods orders edged up while first time applications for unemployment benefits dropped more than expected. Nasdaq climbed 16 points to 2285.

On the upside

Karen Finerman of CNBC's Fast Money selected Golar LNG (Nasdaq: GLNG) as her high risk stock pick for 2010.

Speculation that Apple (Nasddaq: AAPL) will unveil it tablet touch screen computer in San Francisco in January lifted shares of the company.

Alcoa (NYSE: AA) entered a joint venture with Saudi Arabia Mining Company to develop, construct and operate a mine and refinery in the Saudi Arabia.

On the downside

Fannie Mae (NYSE: FNM) chief executive Michael Willams and Freddie Mac (NYSE: FRE) chief executive Charles Haldeman Jr. may each receive up to a $6 million pay package for 2009.

Maxygen (Nasdaq: MAXY) will spend nearly $38.9 million excluding fees and expenses to purchase more than 7.3 million common shares through a modified Dutch auction.

Superior Well Services (Nasdaq: SWSI) amended its credit agreement lowering its credit facility and borrowing base.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 634.

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