The unofficial closing bells put the DJIA up more than 218 points to 13,177.83 (1.68%), the NASDAQ rose more than 56 points (1.88%) to 3,039.88, and the S&P 500 rose 1.81% or nearly 25 points to 1,395.97.
There were several analyst upgrades and downgrades today, including Booz Allen Hamilton (NYSE: BAH) cut to ‘market perform’ at Wells Fargo; Cablevision Systems Corp. (NYSE: CVC) cut to ‘hold’ at Deutsche Bank; Urban Outfitters Inc. (NASDAQ: URBN) maintained as ‘neutral’ but estimates lowered at Credit Suisse (more coverage here); Watson Pharmaceuticals Inc. (NYSE: WPI) reiterated as ‘buy’ with $70 target price at Argus; and Honeywell International Inc. (NYSE: HON) reiterated as ‘buy’ with $70 target price at Argus.
Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: ADA-ES Inc. (NASDAQ: ADES) is up 2.4% at $25.87 after posting a new 52-week high of $27.00; Books-a-Million Inc. (NASDAQ: BAMM) is up 6.9% at $3.10; Ebix Inc. (NASDAQ: EBIX) is up 5.2% at $23.86; Lydall Inc. (NYSE: LDL) is up 6.3% at $9.75; Raven Industries Inc. (NASDAQ: RAVN) is up 3.8% at $63.77; X-Rite Inc. (NASDAQ: XRIT) is up 1.3% at $4.47; Aastrom Biosciences Inc. (NASDAQ: ASTM) is up 1.5% at $2.07; and IDT Corp. (NYSE: IDT) is up 16.3% at $9.77.
Other standouts from today include the following stocks:
BankAtlantic Bancorp Inc. (NYSE: BBX) is up nearly 87% at $3.60. The bank holding company received a sweetened deal this morning on its pending acquisition by BB&T Corp. (NYSE: BBT).
Omeros Corp. (NASDAQ: OMER) is up about 32% at $10.10 after posting a new 52-week high of $10.88 earlier. The biopharmaceutical company’s reported a successful phase III drug trial this morning.
North Central Bancshares Inc. (NASDAQ: FFFD) is up more than 36% at $30.03 after posting a new 52-week high of $30.10 earlier. The bank holding company is merging with Great Western Bancorporation Inc..
Coleman Cable Inc. (NASDAQ: CCIX) is down more than -20% at $10.35. The electrical equipment maker reported weak quarterly earnings and offered a weak forecast this morning.
Majesco Entertainment Co. (NASDAQ: COOL) is down more than -13% at $2.57. The video game maker reported weak earnings last night. More coverage here.
Stay tuned for Wednesday. Federal Reserve Chairman Ben Bernanke is giving a speech in the morning. We have noted the following events on the schedule (all times Eastern):
- 7:00 a.m. – Mortgage Bankers Association purchase applications
- 8:30 a.m. – Import and export prices
- 10:30 a.m. – EIA weekly petroleum status report
- 1:00 p.m. – 30-year Treasury bond auction
[wallst_email_signup]
Paul Ausick
Top Gaining Stocks
Top Losing Stocks