The markets extended its gains during the midday with the Dow soaring 206
points to 11,491 as consumer spending climbed in July. Nasdaq leaped 66
points to
2546.
Venoco (NYSE: VQ) chairman and chief executive Timothy Marquez offered to acquire the company for $12.50 per share.
Capital One upgraded Dresser-Rand (NYSE: DRC) to an Add rating from Neutral.
Hartford Financial Services Group (NYSE: HIG) chief executive Liam McGee said that costs from Hurricane Irene damage fell within its expected range.
The Bedford Report issued a research report on Coffee Holding Co. (Nasdaq: JVA).
Bargain hunters lifted shares of Camelot Information Systems (NYSE: CIS). The stock price fell last week after reporting disappointing second quarter earnings.
Bank of America (NYSE: BAC) will sell 13.1 billion common shares of China Construction Bank.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 26 points to 717.
