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January 18, 2012 at 17:21 PM EST
Higher Close As IMF Ups Bailout Fund

The markets closed higher with the Dow climbing 96 points to 12,578 as investors welcomed plans by the International Monetary Fund to increase the European bailout fund by up to $500 billion. Nasdaq soared 41 points to 2769.

On the upside

Barclays Capital upgraded Radio Shack (NYSE: RSH) to an Equal Weight rating from Underweight.

PHH (NYSE: PHH) completed its $250 million convertible senior notes offering.

Brighton Markets issued a research report on United Rentals (NYSE: URI).

On the downside

Sunoco (NYSE: SUN) completed the spin-off of SunCoke (NYSE: SXC).

Fulton Financial (Nasdaq: FULT) reported higher fourth quarter earnings but the results fell short of expectations.

Investors locked in profits on Ku6 Media (Nasdaq: KUTV), whose stock price soared yesterday on news of its partnership with YouTube.

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 surged 13 points to 779.

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