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From Briefing.com: 4:15 pm : A better-than-expected earnings preannouncement from Wells Fargo sent the financial sector surging 15.5%, which induced buying in the broader market and helped the Dow move back above 8,000.

Wells Fargo (WFC 19.61, +4.72) isn't scheduled to officially announce first quarter earnings results until April 22, but came out this morning to let investors know it expects to earn $0.55 per share for the quarter. Analysts had forecast earnings of just $0.24 per share. Wells Fargo also indicated its combined net charge-offs are down sequentially and that the legacy Wachovia business is operating well.

Wells Fargo's announcement seemed to contradict a handful of pessimistic comments and reports, and helped restore investor confidence in bank stocks. Diversified banks advanced 28.9%, while the KBW Banking Index climbed 20.1%.

Leadership from banks and other financial stocks helped bring about broad-based buying in each of the major indices. In turn, all three major indices were able to log their best single session percentage gain in two weeks and close at session highs. Each index advanced more than 3%. Small- and mid-cap stocks fared even better; the Russell 2000 Small-Cap Index spiked 5.9%, while the S&P 400 Mid-Cap Index tacked on 5.5%.

There weren't any market-moving earnings announcements released today. However, plenty of retailers were out reporting same-store sales results for March. Though the numbers generally showed declines, they weren't necessarily as bad as many had expected. That, combined with a positive bias in the broader market, helped retailers climb 4.6%.

Wal-Mart (WMT 50.66, -1.95) was a laggard, though. The company posted positive March same-store sales, but the increase wasn't as strong as expected. Still, Wal-Mart hasn't reported a negative monthly same-store sales figure since May 2007.

Wal-Mart's string of positive same-store sales results largely comes from strapped consumers looking for bargains amid stiff macro headwinds, including rising job losses. Initial jobless claims for the week ending April 4 totaled 654,000, which is down 20,000 from the week before, but generally in-line with the 660,000 initial claims that were expected. Continuing claims climbed to a new record high of 5.80 million.

A strong bias in the equity markets didn't really carry over into commodities trading. Crude oil futures closed pit trading with oil priced 5.2% higher at $51.97 per barrel, but natural gas contracts closed pit trading roughly 0.6% lower at $3.60 each. Gold finished at $883.00 per ounce, down 0.3%. Silver closed pit trading at $12.33 per ounce, just below the unchanged mark.

As a reminder, stock and bond markets are closed Friday for holiday observance.DJ30 +246.27 NASDAQ +61.88 NQ100 +3.0% R2K +5.9% SP400 +5.5% SP500 +31.40 NASDAQ Adv/Vol/Dec 2290/2.15 bln/455 NYSE Adv/Vol/Dec 2741/1.84 bln/366

4:16PM MEMC Elec reaffirms Q1 revs; cuts gross margin guidance (WFR) 17.95 +1.08 : Co reaffirms Q1 rev guidance, sees revs of $214 mln vs $225.03 mln First Call consensus. As a result of lower pricing and additional underutilization charges, gross margin for the quarter is now expected to be approx 9% of sales, compared to the company's previous outlook of gross margins declining to the 20% range.

4:07PM Canadian Solar and Helio Micro Utility sign 5 megawatt purchase agreement (CSIQ) 6.88 +0.34 : The co and Helio Micro Utility announce a five-megawatt solar photovoltaic module purchase agreement. This agreement will expand CSIQ's U.S. presence while enabling HmU to accelerate its provision of Investment Grade equipment to its own projects and other installers. Distribution will include the full line of Canadian Solar photovoltaic (PV) modules, which cover a wide range of power ratings from 0.03W to 300W. The line is backed by a 25-year performance warranty. All modules meet international standards of quality and safety. Canadian Solar is the first solar module manufacturer in the PV industry to apply ISO: TS16949 (The automotive quality management system) to module production.

9:06AM Jabil Circuit reaffirms Q3 guidance (JBL) 6.01 : Co reaffirms Q3 guidance; sees Q3 EPS of ($0.08)-$0.08 vs $0.02 consensus; co sees revs of $2.5-2.7 bln vs 2.61 bln consensus. Co has been undergoing an impairment analysis of its consolidated balance sheet goodwill. The macro-economic environment has resulted in customer demand declines and a sustained decline in the co's market capitalization below its carrying value at February 28, 2009. As a result of this analysis, the co has determined that all goodwill was impaired except for approximately $23.3 mln associated with the Aftermarket Services reporting unit. Jabil determined that the goodwill related to the Consumer reporting unit is fully impaired and has recorded a non-cash goodwill impairment charge of approximately $82.7 mln for the three months ended February 28, 2009. Further, the co has also determined that the goodwill related to the EMS reporting unit is impaired and has recorded a preliminary non-cash goodwill impairment charge of approximately $622.4 mln for the three months ended February 28, 2009.

1:44AM Micron prices 60.24 mln common shares at $4.15/share (MU) 4.28 : Co also announces the pricing of its public offering of $200 mln aggregate principal amount of 4.25% convertible senior notes due October 15, 2013.