Opening Bell Report

The major indexes opened sharply higher after the Federal Reserve announed plans to pump $200 billion into the credit market. The Dow soared 226 points to 11,966 while Nasdaq leaped 46 points to 2216.

On the upside

The financial services sector rallied on hopes that government intervention may stabilize the mortgage industry. Shares of Citigroup (NYSE: C) and Bank of America (NYSE: BAC) rose.

Financial advisory firm Duff & Phelps (NYSE: DUF) posted higher revenues and a loss that still beat estimates.

Shares of Commercial Vehicle Group (Nasdaq: CVGI) climbed after an analyst raaised his opinion on the truck parts supplier.

On the downside

Texas Instruments (NYSE: TXN) lowered its 1st quarter outlook following order cuts from a key customer. Analysts promptly downgraded the stock.

Health insurance provider WellPoint (NYSE: WLP) lowered its 2008 profit outlook. Its stock promptly tumbled on heavy volume along with shares of rivals Aetna (NYSE: AET), Humana (NYSE: HUM) and UnitedHealth Group (NYSE: UNH).

Shares of soda maker Jones Soda (Nasdaq: JSDA) sagged after the company posted a sharp drop in revenues and a loss citing higher slotting fees to place its products on shelves.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 17 points to 661.

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