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Modestly Higher Close As Services Sector Expands

The markets closed modestly higher with the Dow rising 26 points to 12,127 as the nation's services sector expanded more than expected. Nasdaq gained 18 points to 2778.

On the upside

Bridgeline Digital (Nasdaq: BLIN) partnered with UPS (NYSE: UPS) to offer B2B and B2C eCommerce web stores.

Amyris (Nasdaq: AMRS) announced that its renewable jet fuel will be used in a demonstration flight at the Rio-20 United Nations Conference on Sustainable Development.

Bargain hunters lifted shares of Dendreon (Nasdaq: DNDN) whose stock price fell yesterday on Johnson & Johnson's (NYSE: JNJ) upbeat cancer drug data.

On the downside

Patriot Coal (NYSE: PCX) chief executive Irl Engelhardt will earn a base annual salary of $725,000 for 2012 and 2013.

J.C. Penney (NYSE: JCP) will abandon the "month-long values" advertising model that it adopted in April after reporting sharply lower same store sales.

Shares of National Bank of Greece (NYSE: NBG) fell after Standard & Poor's warned yesterday that the nation of Greece had a one in three chance of leaving the euro zone.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 746.

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