November 19, 2012 at 09:38 AM EST
Rising Home Sales Lift Markets
Existing home sales climbed more than expected last month to lift the markets to a sharply higher open with the Dow surging 152 points to 12,741. Nasdaq jumped 40 points to 2893.
On the upside
China Business News reported that Alibaba Group will acquire a 15% to 20% stake in Sina's (Nasdaq: SINA) Weibo microblogging site.
Wright Medical Group (Nasdaq: WMGI) will pay approximately $190 million in cash and stock to acquire BioMimetic Therapeutics (Nasdaq: BMTI).
On the downside
Global Hunter Securities downgraded DryShips (Nasdaq: DRYS) on Friday to a Neutral rating.
Jefferies downgraded Diamond Foods (Nasdaq: DMND) to an Underperform rating.
Wells Fargo downgraded K12 (NYSE: LRN) from Outperform to Market Perform.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 1 on the NYSE and by 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 787.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here