Rising Pending Home Sales Lifts Markets

An increase in pending home sales and construction spending lifted the markets to a higher close with the Dow soaring 126 points to 10,471. Nasdaq climbed 31 points to 2175.

On the upside

Spectrum Pharmaceuticals (Nasdaq: SPPI) completed enrollment in one of the Phase 3 trials of the company's bladder cancer treatment apaziquone.

Morgan Stanley upgraded Tata Motors (NYSE: TTM) saying that the company's recent acquisition of the Jaguar Land Rover business will become profitable in 2011.

SandRidge Energy will pay approximately $800 million for the Permian Basin properties of Forest Oil (NYSE: FST).

Improving semiconductor sales lifted shares of Fairchild Semiconductor International (NYSE: FCS).

Boston Private Financial Holdings (Nasdaq: BPFH) repurchased preferred securities at a significant discount for a gain of $11 million.

Zion Oil & Gas (Nasdaq: ZN) received over $37 million in subscriptions for an offering of 3.6 million common shares, well above the maximum proceeds of $18 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 9 points to 589.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.