The markets closed higher with the Dow climbing 80 points 12,560 as investors welcomed strong corporate earnings news. Nasdaq gained 31 points to 2815.
On the upside
SatCon Technology (Nasdaq: SATC) was listed by TheStreet as an alternative energy company with the best upside potential.
Eastman Kodak (NYSE: EK) chief executive Antonio Perez, chief financial officer Antoinette McCorvey and presiding board director Richard Braddock purchased shares in the company.
Quantum (Nasdaq: QTM) narrowed fourth quarter losses.
On the downside
RAIT Financial Trust (NYSE: RAS) announced a 1-for-3 reverse stock split effective after market close on June 30, 2011.
North American Energy Partners (NYSE: NOA) warned that it must take a writedown of between $40 million to $45 million for the fiscal year that just ended related to the overburden removal contract with Canadian Natural Resources.
Shares of OfficeMax (NYSE: OMX) fell after rival Staples (Nasdaq: SPLS) disappointed with first quarter results below estimates and cut its full year outlook.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 833.
