December 13, 2011 at 13:23 PM EST
Hope For Fed Action Lifts Markets
Optimism that the Federal Reserve may take further action to stimulate the sluggish economy lifted the markets during the midday with the Dow gaining 68 points to 12,089. Nasdaq added 2 points to 2614.
On the upside
Shares of Jive Software (Nasdaq: JIVE) surged on its first trading day.
Seaspan (NYSE: SSW) announced plans to repurchase up to 10 million shares of class A stock at the premium price of $15 per share.
Deutsche Bank upgraded Marathon Oil (NYSE: MRO) to a Buy rating.
On the downside
SymphonyIRI reported that the market share of Green Mountain Coffee Roasters' (NYSE: GMCR) single serve K-Cup business slipped in November.
Forest Oil (NYSE: FST) will spend $550 million to $600 million on capital projects in 2012 and expects 2012 net sales volumes to rise 5% - 6%.
Sensata Technologies (NYSE: ST) lowered its fourth quarter guidance yesterday.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 733.
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