Investors welcomed news that first time unemployment applications dropped more than expected. The markets rose during the midday with the Dow climbing 66 points to 10,453 while Nasdaq gained 18 points to 2247.
On the upside
BSD Medical's (Nasdaq: BSDM) distributor in China, Dalian Orientech, ordered two BSD-2000 Hyperthermia Systems for treating cancer.
Royal Caribbean Cruises (Nasdaq: RCL) named Gabriela Gonzalez Saul to the position of managing director of Mexican operations.
Jefferies initiated coverage of Exact Sciences (Nasdaq: EXAS) with a Buy rating.
On the downside
Shanda Games (Nasdaq: GAME) disappointed with lower second quarter earnings as revenue dropped.
Iamgold (NYSE: IAG) appointed Stephen Letwin to the position of president and chief executive officer. Letwin will replace interim chief executive on November 1, 2010.
The Food and Drug Administration extended the review date for the second time for Questcor Pharmaceuticals' (Nasdaq: QCOR) gel treatment for infant seizures Acthar.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 638.
