Expansion In Services Sector Boosts Markets

A second month of expansion in the nation's services sector boosted the markets higher during the midday with the Dow soaring 115 points to 9887. Nasdaq gained 12 points to 2070.

On the upside

Ambac Financial (NYSE: ABK) reversed year ago losses to post a healthy profit for the third quarter.

Although Mueller Water Products (NYSE: MWA) swung to a fourth quarter loss, the results were better than analyst expectations.

Solera Holdings (NYSE: SLH) reported better than expected first quarter earnings and lifted its full year guidance.

On the downside

Clarient (Nasdaq: CLRT) disappointed with a loss for the third quarter.

Although Garmin (Nasdaq: GRMN) reported better than expected earnings for the third quarter, the stock price dropped over concerns that Google has entered the personal navigation device market.

Vonage Holdings (NYSE: VG) widend third quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE while declining issues were on par with advancers on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 569.

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