The markets advanced in late afternoon trading to close modestly higher with the Dow rising 23 points to 14,833 despite growing support in Congress for military action in Syria. Nasdaq climbed 22 points to 3612.
On the upside
Cumulus Media (Nasdaq: CMLS) will acquire Dial Global for approximately $260 million in cash.
Roth Capital Partners issued a positive statement about ReneSola (NYSE: SOL).
Shares of Yingli Green Energy (NYSE: YGE) continued rising after reporting a narrower loss for the second quarter last week.
On the downside
Profit taking sank shares of Alaska Communications Systems Group (Nasdaq: ALSK).
Demand Media (NYSE: DMD) entered a new $225 million credit facility.
Dividend Channel noted that Shaw Communications (NYSE: SJR) was oversold.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 6 points to 1639.
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