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Modestly Higher Close In Anticipation Of Future Purchases
Investors interpreted a slip in wholesale inventories as a sign that companies must soon make purchases in order to restock. The markets closed modestly higher with the Dow adding 2 points to 10,567 while Nasdaq climbed 18 points to 2358.
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Investors interpreted a slip in wholesale inventories as a sign that companies must soon make purchases in order to restock. The markets closed modestly higher with the Dow adding 2 points to 10,567 while Nasdaq climbed 18 points to 2358.
On the upside The Wall Street Journal reported that private equity firm Bain Capital was in negotiations to acquire Psychiatric Solutions (Nasdaq: PSYS). A jury found that Smith & Nephew infringed on patents licensed to Kinetic Concepts (NYSE: KCI). Assured Guaranty (NYSE: AGO) commenced a secondary public offering of 16.4 million common shares owned by Dexia SA. On the downside Shares of Orthovita (Nasdaq: VITA) fell ahead of its earnings call tomorrow morning. Goldman Sachs downgraded Lazard (NYSE: LAZ) from its conviction buy list. Susquehanna Bancshares (Nasdaq: SUSQ) priced its offering of 37.5 million common shares at $8.00 per share.
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