Jobless Claims Fall, Markets Advance

The markets advanced during the midday with the Dow gaining 54 points to 11,512 as jobless claims dropped. Nasdaq climbed 22 points to 2639.

On the upside

Axcelis Technologies (Nasdaq: ACLS) was selected to provide its Integra ES plasma drip strip system to a leading semiconductor manufacturer.

Winnebago Industries (NYSE: WGO) swung to a third quarter profit that beat analyst expectations by a wide margin.

Standard & Poor's Ratings Service upgraded The McClatchy Co.'s (NYSE: MNI) corporate credit rating.

On the downside

Agnico-Eagle Mines (NYSE: AEM) announced that it will now pay a quarterly dividend of 16 cents per share instead of an annual dividend of 18 cents per share. The gold miner also said that gold production will increase over the next five years but the stock price fell.

Comstock Resources (NYSE: CRK) will spend approximately $522 million for development and exploration in 2011.

First quarter earnings for Actuant (NYSE: ATU) more than doubled as revenue rose but the industrial products manufacturer forecast current quarter results below estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 774.

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