Drop In Jobless Claims Lifts Markets
September 27, 2012 at 05:22 AM EDT
The markets advanced during the midday with the Dow gaining 58 points to 13,471 as jobless claims dropped last week. Nasdaq climbed 32 points to 3126.On the upsideStemCells (Nasdaq: STEM) enrolled its first patient with an incomplete spinal cord injury in a Phase I/II clinical trial and translated neural stem cells in the patient. Discover Financial Services (NYSE: DFS) reported lower third quarter earnings but the results surpassed analyst expectations.Third quarter earnings slipped for Progress Software (Nasdaq: PRGS) but the results beat expectations.On the downsideCepheid (Nasdaq: CPHD) warned that third quarter revenue will miss expectations.H.B. Fuller (NYSE: FUL) reported higher third quarter earnings but the specialty chemicals company lowered its revenue guidance for the full year.United Continental (NYSE: UAL) warned that passenger revenue will drop in the third quarter.In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 841.