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Pending Home Sales Climb, Markets Advance

The markets advanced during the midday with the Dow gaining 62 points to 13,153 as pending home sales climbed more than expected in March. Nasdaq added 6 points to 3035.

On the upside

Shares of Amarin (Nasdaq: AMRN) rose after competing omega-3 drug developer Omthera Pharmaceuticals reported late stage clinical trial results indicating that its Epanova was inferior to Amarin's AMR101.

First quarter earnings slipped for Monster Worldwide (NYSE: MWW) but the results beat analyst expectations.

Suburban Propane Partners (NYSE: SPH) will pay approximately $1.8 billion to acquire the propane operations of Inergy (NYSE: NRGY).

On the downside

NII Holdings (Nasdaq: NIHD) disappointed with first quarter earnings that plummeted.

Leap Wireless (Nasdaq: LEAP) widened first quarter losses as interest expenses climbed.

H&R Block (NYSE: HRB) will close approximately 200 offices nationwide and eliminate 350 jobs.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 815.

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