Better than expected airline earnings boosted the markets sharply higher during the midday with the Dow soaring 149 points to 11,128. Nasdaq climbed 26 points to 2463.
On the upside
American Airlines (NYSE: AMR) swung to a better than expected profit for the third quarter as revenue rose.
United Rentals (NYSE: URI) reported sharply higher third quarter earnings that surpassed analyst estimates.
The Chinese government approved Verenium's (Nasdaq: VRNM) Purifine PLC enzyme to be sold in the country.
On the downside
Comerica (NYSE: CMA) reversed year ago losses but the results fell short of expectations.
Ambac Financial (NYSE: ABK) will withdraw over $6 billion worth of claims filed against Lehman Brothers in September 2009 for breach of obligations.
FSI International (Nasdaq: FSII) swung to a fourth quarter profit but warned that first quarter results miss expectations by a wide margin.
In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 704.
