The bulls are brushing off Tuesday’s debacle in a big way as they are carrying the market back to the highs prior to the Greece and Portugal news.
The market is showing strong gains after better-than-expected earnings reports from a number of companies and after weekly U.S. jobless claims fell.
As we head to press, the Dow is up 143 points and is at 11,188 while the S&P 500 is higher by 16 to 1,207. The Nasdaq is showing a 35 point pop and is at 2,507.
One company reporting outstanding earnings today was Akamai Technologies (AKAM, $39.03, up $5.85). Shares are up nearly 20% after the company said it earned $40.9 million, or $0.22 a share, on revenue of $240 million. Excluding one-time items, Akamai would have earned $0.35 a share, versus expectations of $0.31 a share, on $230 million in sales.
In other news, Dendreon (DNDN, $45.50, up $5.88) has been halted pending news.
We cover both of these trades in the Members Area as we have our subscribers in both positions. What a sweet day!