Upbeat earnings and soaring new home sales lifted the markets to a higher close with the Dow rising 8 points to 11,985. Nasdaq gained 20 points to 2739.
On the upside
First quarter earnings for Rockwell Automation (Nasdaq: ROK) nearly doubled to surpass expectations as revenue climbed and the company forecast full year results ahead of estimates.
A significant valuation charge weighed down fourth quarter earnings for Allegheny Technologies (NYSE: ATI) but the company expects 2011 full year earnings to climb above analyst expectations.
Second quarter earnings slipped for Buckeye Technologies (NYSE: BKI) but revenue climbed. Last year's income was boosted by alternative fuel mixture credits which have expired.
On the downside
Silicon Laboratories (Nasdaq: SLAB) reported lower fourth quarter earnings that topped estimates and forecast first quarter results that fell short of expectations.
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