Markets Advance As Consumer Sentiment Rises
Posted on March 30, 2012 at 14:56 PM EDT
A strong gain in March consumer sentiment lifted the markets higher during the midday with the Dow gaining 58 points to 13,204. Nasdaq added 4 points to 3099.
On the upside
Shares of Enphase Energy (Nasdaq: ENPH) surged on its first trading day.
Research in Motion (Nasdaq: RIMM) fell to a loss for the fourth quarter but investors welcomed the departure of several executives.
Sunesis Pharmaceuticals (Nasdaq: SNSS) will receive a $25 million royalty payment from Royalty Pharma.
On the downside
The Wall Street Journal reported a security breach at Global Payments (NYSE: GPN) that threatened to put 50,000 cardholders at risk.
Credit Suisse cited weak margins for lowering its first quarter earnings outlook for Valero Energy (NYSE: VLO).
Tibco Software (NYSE: BBY) reported higher fourth quarter earnings that topped estimates by a penny but investors expected an even stronger gain.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 833.
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