FinancialContent is the trusted provider of stock market information to the media industry.
June 07, 2012 at 10:42 AM EDT
China Cuts Interest Rate, Markets Soar
China's central bank unexpectedly cut a key interest rate to lift the markets to a higher open with the Dow soaring 108 points to 12,523. Nasdaq gained 14 points to 2859.
On the upside
Davenport & Co. analyst Drake Johnstone upgraded RF Micro Devices (NYSE: RFMD) to a Buy rating.
McDermott International (NYSE: MDR) chief executive Stephen M. Johnson, a senior vice president and two directors purchased approximately $2.6 million worth of company stock.
Magnum Hunter (NYSE: MHR) chairman and chief executive Gary C. Evans presented at Citi's 2012 Global Energy Conference yesterday after market close.
On the downside
First quarter earnings climbed for Lululemon Athletica (Nasdaq: LULU) as revenue soared but the athletic apparel retailer forecast current quarter as well as full year results below analyst expectations.
Molina Healthcare (NYSE: MOH) withdrew its full year outlook saying that costs in Texas may exceed revenue from premiums.
Navistar (NYSE: NAV) fell to a loss for the second quarter and cut its full year outlook for the second time.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 767.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here