Rise In Household Wealth Lifts Markets
The nation's household wealth rose to a five year high to lift the markets to a higher close with the Dow gaining 39 points to 13,074. Nasdaq climbed 15 points to 2989.
On the upside
Genworth (NYSE: GNW) named former Freddie Mac chief executive David M. Moffett to its board.
Sandridge Energy (NYSE: SD) shareholder TPG-Axon Capital launched a website detailing the reasons for its efforts to replace the board.
H&R Block (NYSE: HRB) narrowed second quarter losses more than expected as revenue climbed.
On the downside
Francesca's Holdings (Nasdaq: FRAN) reported higher third quarter earnings and revenue but the women's apparel retailer forecast disappointing current quarter earnings.
Chelsea Therapeutics (Nasdaq: CHTP) extended its losses from yesterday after reporting mixed results from a late stage clinical trial of Northera.
Investors locked in profits on Thompson Creek Metals (NYSE: TC), whose stock price climbed yesterday on expectations of increased copper demand.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 821.
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