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April 17, 2012 at 10:43 AM EDT
Markets Surge As Home Construction Permits Soar
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.
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