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Bargain Hunters Lift Markets To Sharply Higher Close

Investors snapped up bargains after yesterday's sell-off to lift the markets to a sharply higher close with the Dow leaping 162 points to 12,573. Nasdaq surged 33 points to 2843.

On the upside

Shares of LDK Solar (NYSE: LDK) climbed on news that First Solar (Nasdaq: FSLR) was increasing production at it facility in Germany.

The Silicon Valley Toxics Coalition ranked Trina Solar (NYSE: TSL) No. 1 globally for environmental and social performance on the 2012 Solar Scorecard.

Cypress Semiconductor (Nasdaq: CY) offered a premium of approximately $87.5 million to acquire Ramtron International (Nasdaq: RMTR).

On the downside

Retreating natural gas prices weighed down shares of Quicksilver Resources (NYSE: KWK).

BTIG analyst Rich Greenfield warned Pandora Media (NYSE: P) to take note of Songza's expansion into being one of Apple's most downloaded free apps.

Shares of ATP Oil & Gas (Nasdaq: ATPG) continued falling after chief executive Matt McCarroll resigned last week after less than a week on the job.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 10 points to 761.

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