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June 22, 2012 at 15:47 PM EDT
Markets Advance Ahead Of European Union Meeting
The markets advanced during the midday with the Dow gaining 67 points to 12,641 ahead of a European Union meeting next week. Nasdaq climbed 44 points to 2883.
On the upside
Forest Oil (NYSE: FST) named director Patrick R. McDonald to the position of interim chief executive.
Alexza Pharmaceuticals (Nasdaq: ALXA) resubmitted its marketing application to the Food and Drug Administration for the antipsychotic Adasuve.
Shares of Rite Aid (NYSE: RAD) continued rising after announcing narrower losses than expected yesterday.
On the downside
Associated Estates (NYSE: AEC) priced its public offering of 5.5 million common shares at the discounted price of $14.40 per share.
FBR Capital downgraded ITT (NYSE: ITT) to an Underperform rating.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points 772.
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