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Tech Earnings Lift Markets

Update:2013-10-28 11:54:34  Source:  Author:zhao Return


Upbeat earnings in the technology sector lifted the markets to a higher close with the Dow gaining 61 points to 15,570. Nasdaq rose 14 points to 3943.

On the upside

The Food and Drug Administration approved Zogenix\'s (Nasdaq: ZGNX) pain medication Zohydro.

Cabot Oil & Gas (NYSE: COG) reported sharply higher third quarter earnings as production soared.

Lattice Semiconductor (Nasdaq: LSCC) reversed year ago losses to post a profit for the third quarter as revenue climbed.

On the downside

Shares of NQ Mobile (NYSE: NQ) continued falling after Muddy Waters claimed that the company was a fraud.

ResMed (NYSE: RMD) reported higher first quarter earnings but the results missed expectations.

Third quarter earnings rose for NCR (NYSE: NCR) but revenue fell short of analyst estimates.

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 more than 10 to 9 on Nasdaq. The broader S&P 500 rose 7 points to 1759.