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The Dow Gains 111 Points, Nasdaq Adds 28

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

e Dow gained 111.09 points to close at 13,326.22, the Nasdaq added 28.48 points to close at 2,562.22, and the S&P 500 gained 14.38 points to close at 1,505.85. Oil gained $0.56 to close at $62.37.

Volume was modest with 2.78 billion shares trading on the NYSE and 1.79 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 25:07 on the NYSE and 21:09 on the Nasdaq.

In individual stories, Lyondell Chemical Co. (NYSE: LYO) gained 11 after Billionaire Leonard Blavatnik bought the rights to acquire 8.3% of the company in a forward contract arranged by Merrill Lynch. The shares are being sold by Occidental Petroleum (NYSE: OXY). Blavatnik said he may seek to engage in discussions with the company related to an offer to acquire all of the shares of Lyondell or to discuss a combination or similar transaction between Lyondell and his affiliates, including Access or Basell Holdings B.V. Syntax-Brillian (Nasdaq: BRLC) fell 16.8% after reporting Q3 EPS of $0.09, 3 cents worse than estimates. Revenues were $162.9 million vs. $167 million consensus. Sees Q4 revenues between $190-210 million vs. $182.2 million consensus. Company announces $150 million stock offering. Shareholders plan to offer $22 million in stock.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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