The markets closed modestly higher with the Dow climbing 46 points to 10,858 as investors anticipate an infusion of cash by the Federal Reserve to bolster the faltering economy. Nasdaq gained 9 points to 2379.
On the upside
Raymond James analyst Pavel Molchanov said that General Electric (NYSE: GE) was rumored to be exploring a possible acquisition of Broadwind Energy (Nasdaq: BWEN).
Long term data from a clinical trial demonstrated that implantable cardioverter defibrillators saved one life for every eight patients implanted with the medical device, lifting shares of medical device maker Boston Scientific (NYSE: BSX) higher.
Cognex (Nasdaq: CGNX) lifted its third quarter revenue outlook.
On the downside
Newpark Resources (NYSE: NR) will offer $150 million in convertible senior notes.
HSBC Securities downgraded LDK Solar (NYSE: LDK) to an Underweight rating.
Associated Estates Realty (NYSE: AEC) priced its offering of 8 million common shares at $13.60 per sahre.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 7 points to 675.
