Higher Close As Home Prices Rise
Rising home prices lifted the markets to a higher close with the Dow climbing 72 points to 13,954. Nasdaq held steady at 3153.
On the upside
J.C. Penney (NYSE: JCP) will begin offering sales again after a year of promoting everyday low prices that never resonated with customers.
SuperValu (NYSE: SVU) set the interest rate on a $1.5 billion covenant-lite loan.
Bargain hunters lifted shares of Repros Therapeutics (Nasdaq: RPRX).
On the downside
Investors locked in profits on OCZ Technology (Nasdaq: OCZ). Lexmark International (NYSE: LXK) disappointed with sharply lower fourth quarter earnings that fell far short of analyst expectations.
New Oriental Education & Technology (NYSE: EDU) fell to an unexpected loss for the second quarter.
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 broader S&P 500 index gained 7 points to 1507.
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