Greek Bond Swap Succeeds, Market Close Higher

The markets closed higher with the Dow climbing 70 points to 12,907 after a majority of Greece's debtholders accepted a bond swap offer. Nasdaq gained 34 points to 2970.

On the upside

MicroVision (Nasdaq: MVIS) regained compliance for Nasdaq listing.

Shares of Hovnanian Enterprises (NYSE: HOV) continued climbing after narrowing first quarter losses more than expected yesterday.


Verso Paper Holdings (Nasdaq: MDVN) plans to issue $345 million worth of senior secured notes.


On the downside


Investors locked in profits on Discovery Laboratories (Nasdaq: DSCO) whose stock price surged on Tuesday after the Food and Drug Administration approved Surfaxin to prevent respiratory distress in premature infants.


Profit taking sank shares of Men's Wearhouse (NYSE: MW), whose stock price climbed yesterday after narrowing fourth quarter losses more than expected.

Sigma Designs (Nasdaq: SIGM) disappointed by falling to a greater than expected loss for the fourth quarter.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 806.

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