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Unemployment Rate Holds Steady, Markets Up
The unemployment rate held steady in February offering hope that the job markets is on a slow mend. The markets opened higher with the Dow gaining 74 points to 10,519 while Nasdaq climbed 21 points to 2314.
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The unemployment rate held steady in February offering hope that the job markets is on a slow mend. The markets opened higher with the Dow gaining 74 points to 10,519 while Nasdaq climbed 21 points to 2314.
On the upside InterMune (Nasdaq: ITMN) will meet with the Food and Drug Administration's Pulmonary-Allergy Drugs Advisory Committee to discuss the company's idiopathic pulmonary firbrosis treatment pirfenidone. Private equity firm ABRY Partners will take RCN (Nasdaq: RCNI) private in a deal valued at approximately $1.2 billion. Barclays Capital upgraded Coldwater Creek (Nasdaq: CWTR) after the company forecast full year results ahead of estimates. On the downside Solarfun Power Holdings (Nasdaq: SOLF) swung to a profit for the fourth quarter but warned of lower PV module prices in the first quarter. Green Plains Renewable Energy (Nasdaq: GPRE) priced its offering of 5.5 million common shares at $13.50 per share. Overseas Shipholding Group (NYSE: OSG) will sell 3.5 million common shares through a public offering.
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