The markets advanced during the midday with the Dow gaining 57 points to 11,006, breaking the 11,000 mark for the first time in five months, as a disappointing job report sparked speculation that Federal Reserve will act to boost the faltering economy. Nasdaq rose 14 points to 2398.
On the upside
TeleCommunication Systems (Nasdaq: TSYS) received an order valued at up to $9.3 million to provide the U. S. Army with satellite terminal spare parts.
Pershing Square Capital acquired an 11% stake in distilled spirits company Fortune Brands (NYSE: FO).
Shares of test preparation company Global Education & Technology (Nasdaq: GEDU) climbed on its first trading day.
On the downside
Deutsche Bank analyst Peter Kim downgraded Lam Research (Nasdaq: LRCX) to a Sell rating saying that the semiconductor sector will experience weakness in the next quarter.
Cytori Therapeutics (Nasdaq: CYTX) priced its offering of 4 million common shares at the discounted price of $4.50 per share.
99 Cents Only Stores (NYSE: NDN) reported higher second quarter revenue but the results fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq.
