Lower Jobless Claims, Higher Close

Lower jobless claims lifted the markets to a higher close with the Dow climbing 41 points to 11,499. Nasdaq gained 20 points to 2637.

On the upside

Rodman & Renshaw initiated coverage of LJ International (Nasdaq: JADE) with a Market Outperform rating.

Kindred Healthcare (NYSE: KND) said that fourth quarter income will be at the top end of its guidance and forecast fiscal 2011 results ahead of estimates.

Duracell will raise its prices to match Energizer's (NYSE: ENR) to prevent a costly price war.

On the downside

The Federal Reserve proposed a debit card transaction fee cap that would translate into an 80% to 90% cut in fees sending shares of Visa (NYSE: V) and Mastercard (NYSE: MA) plummeting.

Scholastic (Nasdaq: SCHL) reported higher second quarter earnings but the results fell short of estimates and the book publisher lowered its 2011 guidance.

PURE Bioscience (Nasdaq: PURE) widened first quarter losses as revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 8 points to 776.


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