The markets retreated from earlier highs but still closed in positive territory with the Dow rising 46 points to 10,387 after economists trimmed their growth outlook for the nation's economy. Nasdaq gained 19 points to 2228.
On the upside
Cerus (Nasdaq: CERS) reported that its Cerus Intercept Blood System successfully removed the XMRV virus and MLV-related viruses, which have been linked to prostate cancers and chronic fatigue syndrome, from donated blood.
Rumors that Netezza (NYSE: NZ) may the target of an acquisition lifted shares ot the data warehousing provider.
Qiao Xing Universal Resources (Nasdaq: XING) announced plans to acquire all outstanding shares of Qiao Xing Mobile Communication (NYSE: QXM) that it does not already own.
On the downside
BankAtlantic Bancorp (NYSE: BBX) announced plans for a third stock offering in 18 months to offer up to $125 million worth of stock.
Navistar International (NYSE: NAV) swung to a third quarter profit but revenue fell short of expectations and the company lowered its full year revenue outlook.
J.P. Morgan downgraded Tenneco (NYSE: TEN) saying that auto sales projections for the second half of the year have been lowered.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 634.
