The markets surged to close sharply higher with the Dow jumping 272 points to 11,043 over optimism that European leaders will soon unveil financial packages to support debt laden nations. Nasdaq climbed 33 points to 2516.
On the upside
Shares of Barclays (NYSE: BCS) rose over expectations that European leaders will expand financial assistance to troubled economies.
Consol Energy (NYSE: CNX) sold its royalty interest in the Marcellus Shale to Antero Resources for approximately $193 million.
Benchmark upgraded Entropic Communications (Nasdaq: ENTR) to a Buy rating.
On the downside
A DealReporter article said that bids for Interdigital’s (Nasdaq: IDCC) portfolio of patents are below expectations.
Equity Markets issued a research report on Las Vegas Sands (NYSE: LVS) but the stock price fell.
Sprint (NYSE: S) announced that the premier sponsor of it 11th annual Open Solutions Conference, Samsung Telecommunications America, will give away the Nexus S 4G to the first 1,500 registered attendees.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 665.
