Markets Rise As Pace Of Job Losses Slows

Investors embraced news that the pace of job losses slowed to boost the markets higher with the Dow climbing 77 points to 9421. Nasdaq gained 28 points to 2011.

On the upside

Jazz Pharmaceuticals (Nasdaq: JAZZ) executives will present at two investor conferences.

Second quarter earnings rose for Ulta Salon (Nasdaq: ULTA) to top estimates as sales increased.

Rumors circulated that Samsung may acquire Rambus (Nasdaq: RMBS).

On the downside

Bridgepoint Education (NYSE: BPI) warned that it may be fined by the Department of Education.

Citi Investment Research analyst Kimberly Greenberger cited weak same store sales for downgrading Abercrombie & Fitch (NYSE: ANF).

Third quarter earnings for Quiksilver (NYSE: ZQK) tumbled and the company warned of losses for the fourth quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points 568.

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