Higher Open On Second Bailout For Greece
Posted on February 21, 2012 at 09:44 AM EST
Greece will receive a second round bailout funds to avert bankruptcy. The markets opened higher with the Dow gaining 43 points to 12,993 while Nasdaq rose 9 points to 2961.
On the upside
The Food and Drug Administration approved Corcept Therapeutics' (Nasdaq: CORT) Korlym to treat high blood sugar in Cushing's Syndrome patients.
Threshold Pharmaceuticals (Nasdaq: THLD) reported positive results from a Phase 2b clinical trial of its pancreatic cancer treatment TH-302.
Genomma Lab Internacional made a non-binding offer to acquire Prestige Brands (NYSE: PBH) in deal valued at approximately $834 million.
On the downside
Weatherford International (NYSE: WFT) must restate financials from 2011 through 2008 and possibly in prior years.
Wal-Mart (NYSE: WMT) disappointed with fourth quarter earnings that fell short of analyst expectations.
Ctrip.com International (Nasdaq: CTRP) reported lower fourth quarter earnings prompting a downgrade.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 827.
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