The markets extended its gains during the midda with the Dow soaring 122 points to 11,142 as investors embraced upbeat earnings. Nasdaq climbed 28 points to 2446.
On the upside
Local.com (Nasdaq: LOCM) announced preliminary third quarter earnings above expectations.
Morgan Stanley upgraded Western Refining (NYSE: WNR) to an Overweight Rating.
Phazar (Nasdaq: ANTP) reversed year ago losses to post a profit for the first quarter as revenue climbed.
On the downside
ADTRAN (Nasdaq: ADTN) reported higher third quarter earnings that beat analyst expectations but the stock price dropped.
David Einhorn of Greenlight Capital said that many of St. Joe's (NYSE: JOE) residential developments in Florida are vacant and that the real estate developer must take writedowns for all of its empty properties.
Manitowoc (NYSE: MTW) warned that third quarter revenue will fall short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq.
