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February 23, 2012 at 13:41 PM EST
Rise In Consumer Confidence Lifts Markets
Consumer confidence rose last week to lift the markets higher during the midday with the Dow rising 22 points to 12,961. Nasdaq gained 10 points to 2943.
On the upside
Sears Holdings (Nasdaq: SHLD) swung to a fourth quarter loss but the retailer announced that it will sell eleven General Growth Properties for $270 million.
Fourth quarter earnings soared for Denbury Resources (NYSE: DNR) to surpass analyst expectations by a wide margin.
Morgan Stanley upgraded Level 3 (NYSE: LVLT) to an Overweight rating.
On the downside
NII Holdings (Nasdaq: NIH) disappointed by falling to a loss for the fourth quarter.
GrafTech International (NYSE: GTI) reported lower fourth quarter earnings that missed estimates.
HomeAway (Nasdaq: AWAY) reported a loss for the fourth quarter and forecast current quarter revenue below expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 825.
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