Hope for additional stimulus measures by the Federal Reserve lifted the markets to a higher close with the Dow gaining 78 points to 13,248. Nasdaq surged 35 points to 3022. On the upside
Reports circulated that Sprint (NYSE: S) engaged in discussions to acquire Clearwire (Nasdaq: CLWR). A Seeking Alpha contributor sees upside potential to Molycorp (NYSE: MCP) in the near term. Delta Air Lines (NYSE: DAL) paid approximately $360 million to acquire a 49% stake in Virgin Atlantic. On the downside J. P. Morgan downgraded Family Dollar Stores (NYSE: FDO) to a Neutral rating. Craig Hallum and Needham initiated coverage of Ruckus Wireless (NYSE: RKUS) with Buy ratings but the stock price dropped. Profit taking sank shares of CombiMatrix (Nasdaq: CBMX). In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index added 9 points to 1427.