A stronger than expected increase in new home sales lifted the markets during the midday with the Dow soaring 132 points to 14,699. Nasdaq surged 34 points to 3268.
On the upside
First quarter earnings fell for Delta Air Lines (NYSE: DAL) but the results were better than expected.
A sharp 18.5% year over year surge in March new home sales lifted shares of Toll Brothers (NYSE: TOL).
Illumina (Nasdaq: ILMN) fell to a loss for the first quarter due to a patent infringement judgement against the company but the results were better than expected.
On the downside
Profit taking sank shares of Catalyst Pharmaceutical Partners (Nasdaq: CPRX).
Arch Coal (NYSE: ACI) fell to a wider than expected loss for the first quarter as revenue dropped.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index climbed 14 points to 1577.
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