Rumors that central banks may infuse the European economy with much needed capital sent the markets soaring to a sharply higher close with the Dow leaping 155 points to 12,651. Nasdaq gained 17 points to 2836.
On the upside
International Game Technology (NYSE: IGT) announced plans to repurchase up to $1 billion worth of common stock.
Reuters reported that Bank of America Merrill Lynch contacted a number of private equity firms to about acquiring Huntsman (NYSE: HUN).
Shares of Supervalu (NYSE: SVU) climbed after rival Kroger (NYSE: KR) reported higher first quarter earnings and raised its full year guidance.
On the downside
Lattice Semiconductor (Nasdaq: LSCC) warned that second quarter revenue will fall short of expectations.
Smithfield Foods (NYSE: SFD) disappointed with lower fourth quarter earnings that missed analyst estimates by a wide margin.
Aegerion Pharmaceuticals (Nasdaq: AEGR) priced its public offering of 3.4 million common shares at the discounted price of $14.75 per share.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 762.
