Rise In Household Wealth Lifts Markets
December 06, 2012 at 09:08 AM EST
The nation’s household wealth rose to a five year high to lift the markets to a higher close with the Dow gaining 39 points to 13,074. Nasdaq climbed 15 points to 2989.On the upsideGenworth (NYSE: GNW) named former Freddie Mac chief executive David M. Moffett to its board.Sandridge Energy (NYSE: SD) shareholder TPG-Axon Capital launched a website detailing the reasons for its efforts to replace the board.H&R Block (NYSE: HRB) narrowed second quarter losses more than expected as revenue climbed.On the downsideFrancesca’s Holdings (Nasdaq: FRAN) reported higher third quarter earnings and revenue but the women’s apparel retailer forecast disappointing current quarter earnings.Chelsea Therapeutics (Nasdaq: CHTP) extended its losses from yesterday after reporting mixed results from a late stage clinical trial of Northera.Investors locked in profits on Thompson Creek Metals (NYSE: TC), whose stock price climbed yesterday on expectations of increased copper demand.In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 821.
