A smaller than expected slip in the leading economic indicators index along with strong earnings reports sent the markets soaring during the midday with the Dow leaping 216 points to 10,337. Nasdaq surged 55 points to 2242.
On the upside
DayStar Technologies (Nasdaq: DSTI) engaged in discussions with potential partners to manufacture the company's CIGS solar modules offshore.
Isilon Systems (Nasdaq: ISLN) reversed year ago losses to post a better than expected profit for the second quarter and lifted its revenue outlook for the year.
Royal Caribbean Cruises (NYSE: RCL) swung to a second quarter profit and raised its full year guidance.
On the downside
While fourth quarter earnings rose for Western Digital (NYSE: WDC), the results missed estimates.
Mattson Technology (Nasdaq: MTSN) disappointed with a wider than expected loss for the second quarter.
Medco Health Solutions (NYSE: MHS) reported higher second quarter earnings but the company's profit per prescription fell.
In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 630.
