Pending Home Sales Climb, Markets Advance

Pending home sales climbed in November to lift the markets higher during the midday with the Dow soaring 115 points to 12,266. Nasdaq gained 19 points to 2609.

On the upside

VisionChina Media (Nasdaq: VISN) shareholders approved the appointment of Deloitte Touche Tohmatsu to be the company's independent auditor.


CNBC reported that David Einhorn of Greenlight Capital may have acquired a stake in Diamond Foods (Nasdaq: DMND).

PulteGroup (NYSE: PHM) sold land in Colorado to Wheelock Street Capital.

On the downside


Oceanic Investment Management added a $2 million position in Frontline (NYSE: FRO) but the stock price dropped.


Investors locked in profits on Endeavour International (NYSE: END), whose stock price rose yesterday after an analyst upgrade.


Chesapeake Midstream Partners (NYSE: CHKM) will pay approximately $865 million to acquire Chesapeake Midstream Development, a subsidiary of Chesapeake Energy (NYSE: CHK).


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 742.

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