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Upbeat Earnings Boost Markets

Upbeat earnings news boosted the markets during the midday with the Dow jumping 204 points to 13,125. Nasdaq leaped 60 points to 3048.

On the upside

First Solar (Nasdaq: FSLR) will eliminate 2,000 jobs, close its facilities in Frankfurt, Germany and idle production at some plants in Malaysia.

DTS will pay approximately $134.3 million in cash and stock to acquire rival SRL Labs (Nasdaq: SRSL).

A Seeking Alpha contributor expects EDAP TMS (Nasdaq: EDAP) to expand its operations as as more research supports using High-Intensity Focused Ultrasound to treat prostate cancer.

On the downside

The U. S. International Trade Commission ruled that Whirlpool (NYSE: WHR) was not materially injured by bottom-mount refrigerators from South Korea and Mexico that were sold below fair market value.

Wabash National (NYSE: WNC) will offer up to $150 million in senior convertible notes.

Mechel (NYSE: MTL) must resolve mining license violations at it Yakutugol facility within six months.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 16 points to 814.

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