Reason For The Biggest Rise In Two Years
U.S. stocks are on the rise, extending the
Standard & Poor’s 500
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advance in two years. Wal-Mart Stores
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reported gains in holiday sales. Exxon
Mobil
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agree this week to cut output. Intel
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other chipmakers on optimism it will be among the first industries to benefit
from an economic revival.
As of 12:40 PM New York time, the
S&P 500, up 11.5% this quarter, gained +12.77, to 1157.42. The Nasdaq
Composite Index
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Industrial Average
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three measures are staging their biggest one-day rallies in three weeks. Just
three members of the Dow are down, while shares of 79 companies in the S&P
500 and six in the Nasdaq 100 are trading lower. Some
305 million shares traded on the New York Stock Exchange by 11:45 a.m. in New
York, down 48% from a week ago, with many investors and traders away from their
desks for the Christmas holidays. About two stocks rose for every one that fell
on the Big Board.
STOCKS MOVING UPWARD
Yahoo!
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$18.19 and has traded as high as $18.27. The Internet search service said sales
on the company’s shopping site rose 86% during the holidays. The company made
the announcement in a press release distributed by Business Wire. Internet
retailer Amazon.com
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12%, to $11.02, and has traded as high as $11.29.
Interep National Radio Sales
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is climbing for a second day, gaining 77 cents, or 17%, to $5.42 and has trading
as high as $5.65. The seller of radio and commercial air time to advertisers is
among a group of stocks that have been talked about in a positive manner. Many
companies are preparing their advertising budgets for the coming year.
Orchid BioSciences
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to rise, gaining 73 cents, or 13%, to a high of $6.35. The maker of tools for
studying genes expects to have sales of about $10 million in the fourth quarter,
the company said in a statement issued Friday. It was expected to have $7.5
million in revenue, the average of three analysts polled by Thomson
Financial/First Call.
OSI Systems [OSIS|OSIS] is up
for a second day, gaining $1.95, or 12%, to $18.15 and has traded as high as
$18.68. The maker of bomb detectors surged Monday after a passenger tried to
ignite explosives hidden in his shoes on a trans-Atlantic flight Saturday.
Sonic Solutions
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also up for a second day, gaining 56 cents, or 11%, to $5.66 and has traded as
high as $5.74. The software developer is beginning to pique the interest of
several Small-Cap Fund Managers.
Top Image Systems
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has gained $1.09, or 34%, so far today, to $4.29 and has traded as high as
$4.33. The software maker said its product will be purchased by the Indian
government to perform a nationwide census.