Success…Only One Down

Stocks opened pretty much flat and
fell under pressure early on in Thursday’s trading session.

The Dow Jones Industrials came under
pressure early attempting to rally at mid-day and succeeding. The Dow closed higher
0.4% The Nasdaq Composite successfully followed suit by closing higher 1.9%.

Anticipation is looming on the markets
as they wait for the all-important Gross Domestic Product (GDP) report tomorrow.
Overall, the day was a success, the markets rallied and only one sector ended in
the red.

Reliant Resources
(
RRI |
Quote |
Chart |
News |
PowerRating)
edged
higher in trading as the company gained 13.6% on yesterday’s upgrade by Deutsche
Banc Alex Brown from Buy to Strong Buy.

Also moving up was Consol Energy
(
CNX |
Quote |
Chart |
News |
PowerRating)

shares which tacked on 14.7% after reporting full-year earnings of $2.33 per
share up 72%.

Pharmaceutical Resources
(
PRX |
Quote |
Chart |
News |
PowerRating)

gained 12.1% as the company begins the shipment of the drug Megestrol Oral
Suspension. The drug is used to treat anorexia and unexplained weight loss.

Amdocs
(
DOX |
Quote |
Chart |
News |
PowerRating)
moved up 14.0%.

Pharmaceutical company KOS
Pharmaceuticals
(
KOSP |
Quote |
Chart |
News |
PowerRating)
shares whisked higher 25.8% after the company
reported that it has received tentative approval from the FDA for its
cholesterol medicine Advicor.

Biotechnology company Affymetrix
(
AFFX |
Quote |
Chart |
News |
PowerRating)

shot higher 31.4%. AFFX helped move the Biotechnology Index
(
$BTK.X |
Quote |
Chart |
News |
PowerRating)

higher by 4.2%.

The Semiconductor Index
(
$SOX.X |
Quote |
Chart |
News |
PowerRating)

also scaled up 6.2%.

The GSTI Internet Index
(
$GIN.X |
Quote |
Chart |
News |
PowerRating)

gained 3.3% and the Transportation Index
(
$TRX.X |
Quote |
Chart |
News |
PowerRating)

put on some gains as it closed higher 2.9%.

DST Systems
(
DST |
Quote |
Chart |
News |
PowerRating)
shares slid
12.8%
after reporting Q2 earnings of 41 cents a share compared to the same quarter one
year ago of 34 cents on a diluted basis.

Japanese company Sony
(
SNE |
Quote |
Chart |
News |
PowerRating)
fell
10.3% after the company announced weaker-than-expected earnings.

Guilford Pharmaceuticals
(
GLFD |
Quote |
Chart |
News |
PowerRating)

shares sold off 26.5% as investors became wary of how successful the clinical
trial results for the company’s experimental drug to treat Parkinson’s disease
will be.

Retailer Hibbett Sporting Goods
(
HIBB |
Quote |
Chart |
News |
PowerRating)

shares got rocked as the company closed 15.5% lower after the sporting goods store
warned its Q2 earnings which would be lower than analysts’ expectations.

Only one sector was in the red and
that was the Gold and Silver Index
(
$XAU.X |
Quote |
Chart |
News |
PowerRating)
shedding 2.7%.

 

 

 

 

 

 

 

 

 

 

Â