May 18, 2011 at 17:24 PM EDT
Higher Close On Strong Earnings

The markets closed higher with the Dow climbing 80 points 12,560 as investors welcomed strong corporate earnings news. Nasdaq gained 31 points to 2815.

On the upside

SatCon Technology (Nasdaq: SATC) was listed by TheStreet as an alternative energy company with the best upside potential.

Eastman Kodak (NYSE: EK) chief executive Antonio Perez, chief financial officer Antoinette McCorvey and presiding board director Richard Braddock purchased shares in the company.

Quantum (Nasdaq: QTM) narrowed fourth quarter losses.

On the downside

RAIT Financial Trust (NYSE: RAS) announced a 1-for-3 reverse stock split effective after market close on June 30, 2011.

North American Energy Partners (NYSE: NOA) warned that it must take a writedown of between $40 million to $45 million for the fiscal year that just ended related to the overburden removal contract with Canadian Natural Resources.

Shares of OfficeMax (NYSE: OMX) fell after rival Staples (Nasdaq: SPLS) disappointed with first quarter results below estimates and cut its full year outlook.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks surged 13 points to 833.

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