The markets extended its gains during the midday with the Dow rocketing 256 points to 11,300 on expectations that bailout funds will soon be made available to ailing European economies. Nasdaq jumped 53 points to 2570.
On the upside
Stillwater Mining (NYSE: SWC) withdrew its senior notes offering citing unfavorable market conditions.
Flotek Industries (NYSE: FTK) reported sequentially higher revenue for August.
Bargain hunters lifted shares of Ivanhoe Mines (NYSE: IVN), whose stock price fell yesterday after Mongolia said that it planned to renegotiate a development agreement of the Oyu Tolgoi project.
On the downside
The government of Papua New Guinea said that InterOil's (NYSE: IOC) publicized liquefied natural gas project is not in accordance with approved plans.
Shares of American Superconductor (Nasdaq: AMSC) continued falling after former employee Dejan Karabasevic was sentenced to jail for corporate espionage.
Calix (Nasdaq: CALX) blamed the sluggish economy for slashing its third quarter outlook.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 24 points to 689.
