The Dow Gains 115 Points, Nasdaq Gains 13
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The Dow gained 114.54 points today to close at 12,116.91, the Nasdaq added 13.26 points to close at 2,355.56 and the S&P 500 gained 8.42 points to close at 1,377.02. The major indexes ended higher after a positive start to earnings season. Oil prices also fell $0.52 (to $58.81), which helped bolster investor optimism. Also, Wednesday, investors will be listening closely as the Federal Reserve makes its decision on interest.
Trading volume was modest with 2.51 billion shares trading on the NYSE and 1.90 billion on the Nasdaq. Advancers topped decliners by a margin of 19:14 on the NYSE and 16:15 on the Nasdaq.
In individual stories, Indus International (NASDAQ: IINT) added 46% after the company and Vista Equity Partners, a $1 billion private equity investment firm based in San Francisco, CA, announced they have entered into a merger agreement under which Indus, subject to customary closing conditions, will be acquired by an affiliate of Vista in an all-cash transaction valued at approximately $240 million.
Replidyne (Nasdaq: RDYN) fell 45.4% after the company and Forest Laboratories (NYSE: FRX) (-5.7%) said the FDA has issued a non-approvable letter for Replidyne's new drug application for faropenem medoxomil, a novel oral, community antibiotic.
Tomorrow, investors will be looking for earnings from Alcatel (NYSE: ALA), Altria Group (NYSE: MO), Ameritrade (Nasdaq: AMTD) BellSouth (NYSE: BLS), Brinker Int'l (NYSE: EAT), ChoicePoint (NYSE: CPS), Coach (NYSE: COH), DuPont (NYSE: DD), Lexmark Int'l (NYSE: LXK) Lockheed Martin (NYSE: LMT), Lucent Tech (NYSE: LU), NutriSystem (Nasdaq: NTRI), Omnicom (NYSE: OMC), Tellabs (Nasdaq: TLAB) and Whirlpool (NYSE: WHR).
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