Markets Rally On Fiscal Cliff Deal
January 02, 2013 at 09:57 AM EST
Investors welcomed the last minute passage of a fiscal cliff deal by sending the markets soaring with the Dow rocketing 308 points to 13,412. Nasdaq jumped 92 points to 3112. On the upsideRepublic Airways Holdings (Nasdaq: RJET) subsidiary Frontier Airlines announced fares as low as $39 one way.Gevo (Nasdaq: GEVO) announced plans to repurchase up to $15 million worth of common stock.Bargain hunters snapped up shares of Himax Technologies (Nasdaq: HIMX) whose stock price dropped after Seeking Alpha listed the company as one of eight stocks under $5 with troubling sales trends.On the downsideImation (NYSE: IMN) will pay approximately $120 million in cash and stock to acquire Nexsan. Shares of Premier Exhibitions (Nasdaq: PRXI) fell ahead of its third quarter earnings release next week.Tilly’s (NYSE: TLYS) will present at the 15th Annual ICR XChange Conference on Wednesday, January 16, 2013.In the broad market, advancing issues outpaced decliners by a margin of more than 12 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index leaped 36 points to 1462.
