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Impressive Job Creations Lift Markets
Posted on March 09, 2012 at 12:37 PM EST
Employers created an impressive 227,000 jobs in February to lift the markets during the midday with the Dow gaining 38 points to 12,946. Nasdaq climbed 21 points to 2991.
On the upside
Smith & Wesson (Nasdaq: SWHC) swung to a greater than expected profit for the third quarter as revenue climbed prompting the firearms maker to lift its full year guidance.
Coffee Holding (Nasdaq: JVA) reported higher first quarter earnings as revenue more than doubled.
On the downside
Questcor (Nasdaq: QCOR) reported sequentially lower sales of its multiple sclerosis treatment Acthar.
Quiksilver (NYSE: ZQK) widened first quarter losses more than expected even as revenue rose.
Zogenix (NYSE: ZGNX) widened fourth quarter losses more than expected as revenue fell and the pharmaceutical forecast 2012 revenue below analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 14 points to 820.
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