A greater than expected drop in first time applications for unemployment benefits lifted the market to a higher close with the Dow climbing 78 points to 15,548. Nasdaq edged up a point to 3611.
On the upside
Zhone Technologies (Nasdaq: ZHNE) reversed year ago losses to post a profit for the second quarter.
Berry Plastics Group (NYSE: BERY) priced its public secondary offering of 15 million common shares at the discounted price of $21.63 per share.
The Food and Drug Administration granted Fast Track status to Transition Therapeutics’ (Nasdaq: TTHI) Neuropsychiatric Symptoms in Alzheimer’s disease treatment ELND005.
On the downside
Fairchild Semiconductor (NYSE: FCS) fell to a greater than expected loss for the second quarter.
Spirit Realty Capital (NYSE: SRC) completed its $7.4 billion merger with Cole Credit Property Trust.
Sherwin-Williams (NYSE: SHW) reported higher second quarter earnings but the results fell short of analyst expectations and the company forecast current quarter earnings below estimates.
In the broad market, advancing issues outpaced decliners by a margin of more nearly 2 to 1 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 index gained 8 points to 1689.
