|
Additional Chinese Stimulus Measures Expected, Markets Soar
Posted on July 13, 2012 at 14:47 PM EDT
The markets extended its gains during the midday with the Dow jumping 174 points to 12,748 as slower than expected expansion of the Chinese economy sparked speculation of further stimulus measures. Nasdaq surged 38 points to 2904.
On the upside Bank of America Merrill Lynch lifted its earnings guidance for Orexigen Therapeutics (Nasdaq: OREX). Rising gold prices lifted shares of Kinross Gold (NYSE: KGC). On the downside Stifel Nicolaus analyst Mark Astrachan cut his earnings guidance for Green Mountain Coffee Roasters (Nasdaq: GMCR). Bank of America initiated coverage of Questcor Pharmaceuticals (Nasdaq: QCOR) with a Buy rating and set a $60 price target but the stock price tumbled. A Seeking Alpha contributor raised questions about James River Coal's (Nasdaq: JRCC) liquidity. In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 800.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes. Markets are closed on certain holidays. Stock Market Holiday List By accessing this page, you agree to the following Privacy Policy and Terms and Conditions. Press Release Service provided by PRConnect. Stock quotes supplied by Telekurs USA Postage Rates Bots go here |
| ||||||
Display market data, financial news or stock quotes - Learn More
Advertise on FinancialContent's huge network - Learn More
Power your internet and wireless applications - Learn More
(888) 688-9880