Bank Of America Repays Entire Government Loan

By: MarketMinute.com Market Updates

Bank of America repaid the entire $45 billion it received from the government sparking hopes that the economy is on track to recover. The markets closed higher with the Dow gaining 51 points to 10,337. Nasdaq rose 10 points to 2183.

On the upside

Jefferies & Co. initiated coverage of Jazz Pharmaceuticals (Nasdaq: JAZZ) with a Buy rating.

Macquarie Research analyst Jonathan Grobert said that Affymetrix (Nasdaq: AFFX) is a compelling acquisition target.

Valassis Communications (NYSE: VCI) forecast 2010 results above expectations.