European Rescue Fund Expansion Lifts Markets

Reports that France and Germany agreed to increase the rescue package for troubled European nations lifted the markets to a sharply higher close with the Dow soaring 180 points to 11,577. Nasdaq surged 42 points to 2657.

On the upside

Compass Point upgraded Regions Financial (NYSE: RF) to a Neutral rating from Sell.


State Street (NYSE: STT) reported higher third quarter earnings and revenue that topped analyst expectations.


Halozyme Therapeutics (Nasdaq: HALO) reported positive results from a late stage clinical trial of its breast cancer treatment Herceptin.


On the downside


Polaris Industries (NYSE: PII) reported higher third quarter earnings and revenue that topped estimates but the stock price dropped.

Ingram Micro (NYSE: IM) warned that third quarter earnings will fall short of analyst expectations.

Profit taking weighed down shares of Sequenom (Nasdaq: SQNM).

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 20 points to 709.

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