Mortgage Rates Fall, Markets Rise

The markets advanced during the midday with the Dow gaining 33 points to 12,612 as mortgage rates dropped to a new low. Nasdaq climbed 21 points to 2791.

On the upside

Third quarter earnings and revenue surged for 8x8 (Nasdaq: EGHT) to top analyst expectations.


Alcatel-Lucent (NYSE: ALU) partnered with Arbor Networks to offer a solution to distributed denial of service attacks.

Morgan Stanley upgraded UBS (NYSE: UBS) to an Overweight rating.


On the downside


Investors locked in profits of JA Solar (Nasdaq: JASO) and Suntech Power Holdings (NYSE: STP), whose stock prices soared recently over expectations of a solar rebound.


The TUV Rheinland Group granted Yingli Green Energy (NYSE: NAT) Product Carbon Footprint Verification for its multi-crystalline and mono-crystalline PV modules but the stock price fell.

BankUnited (NYSE: BKU) will no longer pursue suitors and will remain an independent company.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 782.

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