The markets reversed course to trade higher during the midday with the Dow climbing 78 points to 11,184 over news that France and Germany will discuss financial options with Greece later this week. Nasdaq added 3 points to 2535.
On the upside
Shares of Coldwater Creek (Nasdaq: CWTR) continued climbing after chairman and chief executive Dennis Ponce acquired approximately 686 million shares of company stock last week.
Silvercorp Metals (NYSE: SVM) produced Tax Certificates issued by the Chinese government to refute allegations of fraud by an anonymous source.
Delta (NYSE: DAL) said that it will not be purchasing any more planes for the next few years.
On the downside
Jefferies downgraded Suntech Power Holdings (NYSE: STP) to an Underperform rating and cut its price target from $5.50 to $3.
Majesco Entertainment (Nasdaq: COOL) reversed year ago losses to post a profit for the third quarter but its full year revenue guidance fell short of expectations.
Jefferies downgraded El Paso Electric (NYSE: EE) after the El Paso City Council voted to review the company's rates.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 695.
