Blue Chip Stocks Advance At Midday
Posted on April 16, 2012 at 15:19 PM EDT
Rising retail sales lifted shares of blue chip stocks with the Dow soaring 119 points to 12,968. Nasdaq lost 15 points to 2995.
On the upside
Openwave Systems (Nasdaq: OPWV) will sell its service mediation and messaging products businesses to Marlin Equity Partners.
Canadian Solar (Nasdaq: CSIQ) denied reports that the company was being sold to China National Offshore Oil.
On the downside
E-Commerce China Dangdang's (NYSE: DANG) chief financial officer Conor Chia-Huang Yang resigned.
Bloomberg reported that Argentina will pursue a 51% interest in YPF (NYSE: YPF).
Cobalt International (NYSE: CIE) denied allegations of wrongdoing in Angola.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 802.
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