The markets surged during the midday with the Dow jumping 130 points to 13,554 over impressive corporate earnings. Nasdaq soared 33 points to 3097. On the upside
Identive Group (Nasdaq: INVE) unveiled a new secure identification card reader for Apple (Nasdaq: AAPL) mobile devices. Analysts expect Nokia (NYSE: NOK) to widen losses for the third quarter when the cellphone maker reports earnings on Thursday but the launch of Windows 8 devices next week should increase its market share. Citigroup upgraded Fossil (Nasdaq: FOSL) to a Buy rating. On the downside Government Properties Income Trust (NYSE: GOV) priced its public offering of 7.5 million common shares at the discounted price of $23.25 per share. PNC Financial Services Group (NYSE: PNC) reported higher third quarter earnings but the results fell short of analyst expectations. Costamare (NYSE: CMRE) priced its public offering of 7 million common shares at the discounted price of $14 per share. In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 833.
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