Gain in homebuilder confidence lifts markets

The markets extended its gains during the midday with the Dow leaping 168 points to 16,831 as homebuilder confidence rose. Nasdaq soared 38 points to 4503.

On the upside

China Finance Online (Nasdaq: JRJC) launched China's first independent web-based securities trading platform, Zhengquantong.

Leerink initiated coverage of Tekmira Pharmaceuticals (Nasdaq: TKMR) with an Outperform rating and a price target of $25.

DreamWorks Animation (Nasdaq: DWA) named DirecTV executive Fazal Merchant to the position of chief financial officer.

On the downside

A federal court dismissed patent infringement claims on four patents made by Mitek Systems (Nasdaq: MITK) against USAA. Mitek also announced the resignation of chief technology officer Michael Strange.

Shares of Xinyuan Real Estate (NYSE: XIN) extended its losses.

Investors locked in profits on Monster Beverage (Nasdaq: MNST).

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 soared 15 points to 1970. Bitcoin fell $26 to $461.

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