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Markets Surge As Home Construction Permits Soar
Posted on April 17, 2012 at 10:43 AM EDT
New permits for home construction climbed 4.5% in March to lift the markets to a sharply higher open with the Dow surging 133 points to 13,054. Nasdaq soared 37 points to 3025.
On the upside
Comerica (NYSE: CMA) reported higher first quarter earnings that topped analyst expectations.
Alpha Natural Resources (NYSE: ANR) will report first quarter results before market open on Thursday, May 3, 2012.
On the downside
Starwood Property Trust (NYSE: STWD) priced its public offering of 20 million common shares at an undisclosed price.
Apollo Residential Mortgage (NYSE: AMTG) priced its public offering of 13.9 million common shares.
Extra Space Storage (NYSE: EXR) will pay $160 million in cash to buy out its joint venture ESS PRISA III partner Prudential Real Estate Investors .
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 808.
Alpha Natural Resources, Inc. Apollo Residential Mortgage Comerica, Inc. Dow Jones Industrial Average Dow Jones Industrial Average (EOD) ENDOCYTE Extra Space Storage, Inc. Merck & Co., Inc. NYSE COMPOSITE INDX Russell 1000 Index Russell 2000 Russell 3000 Index Standard & Poors 500 Starwood Property Trust, Inc.
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