Higher Close On Strong Chinese Exports
Rising Chinese exports lifted the markets to a higher close with the Dow climbing 80 points to 13,471. Nasdaq gained 15 points to 3121.
On the upside
Guggenheim Securities analyst Shing Yin wrote that MetroPCS (NYSE: PCS) and T-Mobile may acquire Leap Wireless (Nasdaq: LEAP) after completing their merger.
News that China's exports soared in December lifted shares of Chinese stocks Youku Tudou (NYSE: YOKU) and China Ming Yang Wind Power (NYSE: MY).
On the downside
Sequenom (Nasdaq: SQNM) extended its losses over competition concerns. DragonWave (Nasdaq: DRWI) widened third quarter losses more than expected despite higher revenue as gross margin dropped.
The Justice Department sued Bazaarvoice (Nasdaq: BV) alleging that the company's acquisition of PowerReviews violated antitrust laws.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index climbed 11 points to 1472.
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