OPEC May Increase Oil Output, Markets Close Sharply Higher
Crude oil prices retreated after OPEC members indicated that oil output may be increased. The markets closed sharply higher with the Dow soaring 125 points to 12,214 while Nasdaq climbed 20 points to 2765.
On the upside
Broadsoft (Nasdaq: BSFT) reported sharply higher fourth quarter earnings that surpassed analyst expectations by a wide margin.
Lawson Software (Nasdaq: LWSN) retained the services of Barclays Capital to explore strategic options including the possible sale of the company.
K-V Pharmaceutical (NYSE: KVA) announced a patient assistance program for Makena, a treatment to reduce the risk of preterm birth.
On the downside
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