Markets Advance At Midday

The markets advanced during the midday with the Dow rising 35 points to 16,444 as investors continued to monitor earnings. Nasdaq gained 17 points to 4,113.

On the upside

Aastrom Biosciences (Nasdaq: ASTM) will pay approximately $6.5 million to acquire Sanofi's Cell Therapy and Regenerative Medicine business.

Shares of Weibo (Nasdaq: WB) continued rising after a strong debut last week.

First quarter earnings slipped for Select Comfort (NYSE: SCSS) but revenue rose to top estimates.

On the downside

Acacia Research (Nasdaq: ACTG) fell to a greater than expected loss for the first quarter as revenue plunged.

Sterne Agee analyst Sam Poser said that Lululemon Athletica (Nasdaq: LULU) needed a plan to improve sales.

Cepheid (Nasdaq: CPHD) fell to a loss for the first quarter even as revenue rose and cut its full year earnings guidance.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The broader S&P 500 rose 4 points to 1869. Bitcoin eased $1.71 or 0.35% to $488.04.

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