After three days of selling and profit taking, it seems that low wholesale inflation and slightly higher weekly jobless claims were enough of a recipe for a rally.Dow 8,331.32 +46.43 (0.56%)
S&P 500 892.95 +9.03 (1.02%)
Nasdaq 1,689.21 +25.02 (1.50%)
Top Analyst Upgrades & Downgrades
Wal-Mart Stores, Inc. (NYSE: WMT) rose after meeting estimates, despite revenues being a tad light. Shareholders decided to unload the stock after the news, and shares were down 1.5% at $49.28 right before the close.
Constellation Energy Group, Inc. (NYSE: CEG) had another 2.3 million shares sold by Berkshire Hathaway Inc. (NYSE: BRK-A), via Berkshire's MidAmerican Energy.
Medarex, Inc. (Nasdaq: MEDX) announced that its MDX-1100 met primary endpoints for patients receiving methotrexate in a Phase II 'proof of concept' trial in patients with active rheumatoid arthritis. Shares rose by over 3% to $6.40 late in the day, but they had traded up at $6.74 today.
Rambus Inc. (NASDAQ: RMBS) was today's semiconductor winner. Its stock surged after the FTC issued an order dismissing the remainder of its case against Rambus. Shares were up almost 14% at $12.26 late in the day.
Nektar Therapeutics (Nasdaq: NKTR) rose sharply after it confirmed that the FDA has approved Cimzia® for the treatment of adult patients with moderately to severely active rheumatoid arthritis. Shares were up over 22% at $6.20 late in the day.
DigitalGlobe (NYSE: DGI) made it public via an IPO today, making this still one of the only in a hand full of IPO's for 2009. There were several companies that were indirect beneficiaries of this IPO. Shares priced at $19.00 and were trading up at $21.60 right before the close.
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