The markets advanced during the midday to trade modestly higher with the Dow rising 11 points to 12,411 after Federal Reserve members suggested holding interest rates steady beyond 2011. Nasdaq gained 5 points to 2794.
On the upside
Questcor Pharmaceuticals (Nasdaq: QCOR) reported that new prescriptions more than doubled in the first quarter for its multiple sclerosis treatment Athcar.
Abercrombie & Fitch (NYSE: ANF) forecast full year results well ahead of analyst expectations.
Quantum (Nasdaq: QTM) named president and chief operating officer Jon Gacek to the position of chief executive.
On the downside
Meru Networks (Nasdaq: MERU) warned that first quarter revenue will lower than expected.
Duoyuan Global Water (NYSE: DGW) chief financial officer Stephen.
Teekay LNG Partners (NYSE: TGP) priced its follow-on offering of 3.7 million common units at $38.88.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 855.
