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Earnings Improve, Markets Close Higher

The markets closed modestly higher with the Dow rising 25 points to 11,117 as corporate earnings improved. Nasdaq climbed 20 points to 2500.

On the upside

Converted Organics (Nasdaq: COIN) shipped 60,000 gallons of an expected 100,000 gallon order of all-natural, organic liquid fertilizer to Biorem.

First quarter losses for Marshall & Ilsley (NYSE: MI) widened but the results beat expectations.

Journal Communications (NYSE: JRN) reported sharply higher first quarter earnings that surpassed analyst estimates.

On the downside

The Food and Drug Administration questioned whether the formulation of Acura Pharmaceuticals' (Nasdaq: ACUR) pain medication Acurox deters possible abuse.

First quarter earnings for Jefferies Group (NYSE: JEF) nearly doubled but the stock price tumbled as investors locked in profits.

While Supervalu (NYSE: SVU) swung to a fourth quarter profit, the grocery store chain operator forecast disappointing 2011 results.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 10 points to 721.
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