Higher Close On Strong Earnings
Better than expected corporate earnings lifted the markets to a higher close with the Dow gaining 61 points to 13,390. Nasdaq rose 14 points to 3105.
On the upside
Interactive Intelligence (Nasdaq: ININ) expects to report higher fourth quarter earnings and revenue as order more than doubled.
Mattson Technology (Nasdaq: MTSN) shipped its advanced etch system to a sixth semiconductor manufacturer.
On the downside
Copperfield Research accused MagicJack VocalTec (Nasdaq: CALL) of misrepresenting its financial results and urged the Securities and Exchange Commission to investigate the company. Investors locked in profits on Star Scientific (Nasdaq: STSI).
Shares of Garmin (Nasdaq: GRMN) fell after the Justice Department approved the merger of DigitalGlobe (NYSE: DGI) and GeoEye (Nasdaq: GEOY), the only two commercial satellite imagery companies in the nation.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index rose 3 points to 1461.
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