The nation's economy expanded at a 1.7% annual rate in the second quarter to lift the markets during the midday with the Dow climbing 60 points to 15,580. Nasdaq gained 15 points to 3632.
On the upside
Questcor Pharmaceuticals (Nasdaq: QCOR) reported sharply higher second quarter earnings and revenue that surpassed analyst expectations on strong Acthar sales.
CardioNet (Nasdaq: BEAT) widened second quarter losses but revenue climbed and the company serviced record patient volume.
Mako Surgical (Nasdaq: MAKO) widened losses for the second quarter but surgical procedures increased.
On the downside
Jive Software (Nasdaq: JIVE) widened second quarter losses and forecast a loss for the current quarter.
Regal Beloit (NYSE: RBC) disappointed with lower second quarter earnings that fell short of expectations as revenue fell.
Profit taking sank shares of USEC (NYSE: USU).
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers outpaced decliners by more than 7 to 5 on Nasdaq. The broader S&P 500 gained 6 points to 1692.
