A Drop In Jobless Claims Lifts Markets To Higher Open

First time applications for jobless claims dropped to a 3 1/2 year low lifting the markets to a higher open with the Dow climbing 74 points to 11,898. Nasdaq rose 6 points to 2545.

On the upside

Lam Research (Nasdaq: LRCX) will pay approximately $3.3 billion in stock to acquire rival Novellus Systems (Nasdaq: NVLS).


Ultrasound system company SonoSite (Nasdaq: SONO) agree to be acquired by Fujifilm Holdings in a deal valued at approximately $995 million including the assumption of debt.

Second quarter earnings nearly doubled for Fed Ex (NYSE: FDX) as online holiday shopping increased.

On the downside


Analysts downgraded BioSante Pharmaceuticals (Nasdaq: BPAX) after the company reported that its LibiGel female sexual dysfunction drug failed two late stage clinical trials.


Hecla Mining (NYSE: HL) rescued seven miners from the Lucky Friday silver mine in northern Idaho after a rock burst.


Shares of Green Mountain Coffee Roasters (NYSE: GMCR) continued falling after Stifel Nicolaus analyst Mark Astrachan cited slowing sales of the Keurig brewer for maintaining a Sell rating on the company yesterday.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 713.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.