The Dow gained 26.28 points today to close at 12,159.68 the Nasdaq gained 6.96 points to close at 2,378.70, and the S&P 500 gained 5.11 points to close at 1,392.28. Cautiousness persisted on Wall Street, but several sub-prime lenders bounced back, with Accredited Home Lenders (Nasdaq: LEND) gaining over 55% in today’s session. Separately, oil fell $0.61 to close at $57.55.
Volume was modest with 2.89 billion shares trading on the NYSE and 1.82 billion trading on the Nasdaq.
Advancers topped decliners by a margin of 23:9 on the NYSE and 19:11 on the Nasdaq.
In Individual stories, CBOT Holdings (NYSE: BOT) gained 17.4% after IntercontinentalExchange (NYSE: ICE) made a proposal to the Board of Directors of CBOT Holdings, Inc. to combine the two companies in a stock-for-stock transaction that would create the world’s most comprehensive derivatives exchange. ICE would issue 1.42 ICE shares for each CBOT Class A common share, valued at $187.34 per CBOT share based on yesterday’s closing price of ICE shares. MapInfo (NASDAQ: MAPS) gained 51.4% after Pitney Bowes Inc. (NYSE: PBI) announced a merger agreement to acquire MapInfo for approximately $408 million in cash, net of expected cash on MapInfo’s balance sheet at the time of closing. MapInfo is the leading global provider of location intelligence solutions. In the next seven business days, Pitney Bowes will commence a tender offer at a price of $20.25 per share in cash for the outstanding common shares of MapInfo.
Tomorrow, investors will be looking for earnings from 4 Kids Entertainment (NYSE: KDE), AnnTaylor (NYSE: ANN), Carnival Cruise (NYSE: CCL), Kirklands (Nasdaq: KIRK) and Landry’s Seafood (NYSE: LNY).
Traders will be looking for economic data on CPI and Core CPI, Industrial Production, Capacity Utilization and University of Michigan Consumer Sentiment.
Top Gaining Stocks
Top Losing Stocks