Investors welcomed the Federal Reserve's plan to purchase $600 billion in Treasury bonds by lifting the markets sharply higher during the midday with the Dow leaping 183 points to 11,398. Nasdaq soared 32 points to 2572.
On the upside
Axcelis Technologies (Nasdaq: ACLS) narrowed third quarter losses as revenue more than doubled.
Manulife Financial (NYSE: MFC) widened third quarter losses as actuarial assumptions changed but the results were better than expected.
Vishay Intertechnology (NYSE: VSH) priced its offering of $275 milllion in convertible senior debentures at an initial $13.88 per share.
On the downside
Lionbridge Technologies (Nasdaq: LIOX) widened third quarter losses and forecast fourth quarter reveue below expectations.
Fourth quarter earnings rose to top estimates for Amdocs (NYSE: DOX) but the company forecast current quarter income that fell short of analyst expectations.
A former senior manager of MannKind (Nasdaq: MNKD) accused the biopharmaceutical of potential fraud and scientific misconduct for intentionally hiding problems from clinical trials of its inhalable insulin Afrezza.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 15 points to 730.
