Strong earnings news sent the markets soaring to close higher with the Dow leaping 267 points to 11,808. Nasdaq surged 38 points to 2637.
On the upside
Harman International (NYSE: HAR) reported sharply higher first quarter earnings that surpassed analyst expectations.
Third quarter earnings for Cytec Industries (NYSE: CYT) climbed to beat expectations and the company announced that it was exploring options for its coating resins business.
A. O. Smith (NYSE: AOS) reported higher third quarter earnings and lifted its full year outlook.
On the downside
Athenahealth (Nasdaq: ATHN) reported higher third quarter earnings and lifted its full year guidance but the stock price dropped.
RSC Holdings (NYSE: RRR) reversed year ago losses to post a profit for the third quarter but the stock price fell.
USEC (NYSE: USU) continued discussions with the Department of Energy to one day commercialize the American Centrifuge project technology.
In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 16 points to 712.
