Markets Extend Rally As Oil Prices Retreat
The markets extended its rally at midday with the Dow surging 179 points to 12,246 as oil prices retreated and new jobless claims plunged. Nasdaq leaped 50 points to 2798.
On the upside
American Service Group (Nasdaq: ASGR) reversed year ago losses to post a profit for the fourth quarter. The company also agreed to be acquired by Valitas Health Services for approximately $250 million in cash.
Valero Energy (NYSE: VLO) forecast first quarter results well ahead of analyst estimates.
Fourth quarter earnings fell for CVR Energy (NYSE: CVI) but revenue rose.
On the downside
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