Increase In Insured Patients Lifts Markets To Higher Close

The markets closed higher with the Dow rising 43 points to 10,785 as passage of the historic healthcare reform bill assured hospitals and pharmaceuticals of a greater number of insured patients. Nasdaq climbed 20 points to 2395.

On the upside

Ascent Solar Technologies (Nasdaq: ASTI) partnered with Kirloskar Integrated Technologies to build a solar module assembly plant in India.

Shares of insurer Centene (NYSE: CNC), which has a significant Medicaid business, rose after passage of the healthcare reform bill. The bill expands Medicaid.

Brean Murray, Carret defended its bullish view on Seagate Technology (Nasdaq: STX) and maintained its Buy rating on the company.

On the downside

Chesapeake Energy (NYSE: CHK) said that the company may enter a couple of joint ventures in the near future.

Sprint (NYSE: S) introduced the Motorola i1 phone, the world's first push-to-talk Android powered smartphone, but the stock price dropped.

Shares of Palm (NYSE: PALM) continued falling after an analyst slashed his price target on the company to $0.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 9 points to 682.

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