Stocks Open Higher Ahead of Economic Data

Following a strong rally in Europe, the U.S. markets opened higher as investors looked for signs of an economic recovery this year. The Dow rose 45 points to 8998 while Nasdaq surged 18 points to 1646.

On the upside

Toyota (NYSE: TM) announced plans to suspend production at all 12 of its Japan plants for a total of 11 days in February and March.

Shares of Apple (Nasdaq: AAPL) rose ahead of the keynote speech at the Macworld trade show today.

Indevus Pharmaceuticals (Nasdaq: IDEV) received a $370 million buy-out offer from Endo Pharmaceuticals (Nasdaq: ENDP) to diversify its drug portfolio.

On the downside

Super Micro Computer (Nasdaq: SMCI) lowered its revenue and earnings outlook for 2009 due to delays in customer purchases.

Shares of IntercontinentalExchange (NYSE: ICE) tumbled for a second day in a row as a drop in commodity futures trading cut into its average daily commissions total.

An analyst downgraded Allscripts-Misys Healthcare Solutions (Nasdaq: MDRX) due to slack growth and cost-cutting in the segment.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 8 points to 513.
Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.