Expansion among regional manufacturers along with expectations for a 20% increase in the personal computer market sent the markets soaring to a sharply higher close with the Dow leaping 213 points to 10,404. Nasdaq jumped 61 points to 2305.
On the upside
Shares of CBOE Holdings (Nasdaq: CBOE) soared on its first trading day.
Radian Group (NYSE: RDN) chief financial officer Bob Quint said that mortgage delinquencies fell in April and May signaling improvement in the mortgage insurance industry.
International job posting sevices firm eQuest reported a 91% surge in online recruitment spending lifting shares of online employment solutions company Monster Worldwide (NYSE: MWW).
On the downside
Lazard analyst William Tanner downgraded Vivus (Nasdaq: VVUS) saying that the Food and Drug Adminstration may impose more stringent safety standards on Vivus' new weight loss treatment Qnexa.
First quarter earnings for China Mass Media (NYSE: CMM) plunged as revenue tumbled.
Bakers Footwear Group (Nasdaq: BKRS) widened first quarter losses by a greater than expected amount warned that it may receive a delisting notice from Nasdaq.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 16 points to 668.
