The markets advanced in late afternoon trading to close higher with the Dow climbing 69 points to 11,204 as investors focused on a surge in new home sales. Nasdaq gained 11 points to 2530.
On the upside
Acacia Research (Nasdaq: ACTG) swung to a profit that topped analyst estimates.
Western Alliance Bancorp (NYSE: WAL) narrowed first quarter losses prompting an upgrade.
International Game Technology (NYSE: IGT) reported higher second quarter income as revenue rose.
On the downside
Taser International (Nasdaq: TASR) widened first quarter losses as revenue and margins both dropped.
First quarter earnings for Pegasystems (Nasdaq: PEGA) tumbled to fall short of expectations as operating expenses climbed.
While The New York Times (NYSE: NYT) swung to a profit for the first quarter, investors were disappointed by a greater than expected drop in advertising revenue.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 741.
Markets Advance To Close Higher Over Surging New Home Sales
April 23, 2010 at 17:35 PM EDT