Rising Home Prices Lift Markets To Sharply Higher Close

Investors welcomed news that home prices edged up for the first time in eight months to lift the markets to a sharply higher close with the Dow leaping 145 points to 12,188. Nasdaq jumped 41 points to 2729.

On the upside

The Street listed Glu Mobile (Nasdaq: GLUU) as one of eight consumer goods stocks under $5 with much upside potential.

Grupo Pao de Acucar (NYSE: CBD) will be acquired by an investor group that may combine the Brazilian retailer with French retailer Carrefour.

A Seeking Alpha article listed Qihoo 360 Technology (NYSE: QIHU) as an undervalued stock.

Westport Innovations (Nasdaq: WPRT) partnered with General Motors (NYSE: GM) to develop advanced natural gas engine technology.

On the downside

A Seeking Alpha article yesterday listed Clean Diesel Technologies (Nasdaq: CDTI) as one of seven highly speculative stocks.

Ford Motor (NYSE: F) warned of weak sales in Europe as governments cut spending.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 12 points to 817.
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