From Briefing.com: 4:30 pm : Stocks spent most of the session plodding along the neutral line until a late lift helped them settle with solid gains. However, the late climb couldn't quite build enough momentum to make a move past key resistance levels.
Moderate weakness at the open led to a lower start, but the broader market was able to attract support as the 1115 line held for the S&P 500. The 1115 line not only marks the stock market's 200-day moving average, but it is also the dividing point between year-to-date gains and losses.
Technical support helped participants shrug off a disappointing September Empire Manufacturing Index, which slipped to 4.1 from 7.1. It had been expected that it would come in at 6.4.
Import prices heated up in August with a 0.6% monthly increase. They had increased just 0.1% in the prior month.
Industrial production increased 0.2% in August, but the consensus called for a slightly stronger hike of 0.3% after a 0.6% increase in the prior month. Capacity utilization in August was 74.7%, not too different than the 75.0% that was widely forecasted.
Market participants were hardly surprised by the decision of Japan's government to curtail the yen's strength by intervening in currency markets since there had been plenty speculation about such a measure in recent weeks. Still, Japan's Nikkei Index spiked more than 2% overnight as exporters found favor amid a 3% drop in the yen. Though Japan's currency remains near its 15-year high, a cheaper yen makes U.S. exports more expensive to Japan.
Stocks spent latter part of the morning and most of the afternoon confined to a relatively narrow range. There was no headline or clear catalyst responsible for the bounce, but stocks broke free in the final hour to finish near session highs. However, the S&P 500 could not attract enough support to take it back to the prior session's high, which are in line with the top of the summer trading range and the "flash crash" close.
Participation was unimpressive once again as trading volume on the NYSE failed to break above 1 billion shares.
Despite the apparent lack of conviction, the only thing investors care about at the end of the day is whether their holdings advanced. That said, health care stocks had the best performance. The sector swung to a 0.8% gain. Savient Pharmaceuticals (SVNT 19.98, +5.22) was a standout after the FDA approved a gout drug from the firm.
Tech stocks were relatively strong for the second straight session, though their collective 0.6% gain came without help from semiconductor stocks (-0.3%).
Financials (+0.4%) had a relatively quiet session as bank stocks were mixed following their pullback in the prior session. However, MasterCard (MA 210.18, +10.43) outperformed after it announced the approval of a $1.0 billion share repurchase plan and stated it expects earnings per share to achieve a compound annual growth rate of 20% or more until fiscal 2013.
Energy stocks lagged for the entire session, but the sector managed to limit its loss to 0.2%. A 1.0% decline in oil prices to $76.02 per barrel weighed on the sector. Oil prices had been down more than 2% ahead of an in-line inventory report, though.
Advancing Sectors: Health Care (+0.8%), Consumer Staples (+0.7%), Tech (+0.6%), Telecom (+0.5%), Financials (+0.4%), Consumer Discretionary (+0.2%), Industrials (+0.1%)
Declining Sectors: Utilities (-0.5%), Energy (-0.2%), Materials (-0.1%)DJ30 +46.24 NASDAQ +11.55 NQ100 +0.6% R2K +0.5% SP400 +0.4% SP500 +3.97 NASDAQ Adv/Vol/Dec 1480/2.08 bln/1109 NYSE Adv/Vol/Dec 1591/900 mln/1406
4:04PM Micrel increases share repurchase amount to $30 mln from previous $15 mln (MCRL) 9.76 -0.09 :
12:27PM Apple announces AirPrint wireless printing for iPad, iPhone & iPod touch coming to users in November; available first on HPQ (AAPL) 269.79 +1.73 : Co announced that it is releasing a beta version of its AirPrint wireless printing for iPad, iPhone and iPod touch to members of Apple's iOS developer program today, and that AirPrint will be included in the free iOS 4.2 software update in November. AirPrint automatically finds printers on local networks and can print text, photos and graphics to them wirelessly over Wi-Fi without the need to install drivers or download software. HP'Qs existing and upcoming ePrint enabled printers will be the first to support printing direct from iOS devices.
8:07AM UTStarcom wins contract from Sichuan Radio and TV and Jinan, Shandong province (UTSI) 1.93 : Co announces contracts for Sichuan Radio and TV's Integrated IPTV Broadcasting Control Platform Project and for Jinan Radio & TV Network Center's Equipment Purchase Project to become the Center's exclusive broadband solution provider.
Microsemi (MSCC) announced that it has acquired privately held Arxan Defense Systems. Terms not disclosed.
6:38AM Monolithic Power sees Q3 revs at lower end of previously announced guidance (MPWR) 17.56 : Co issues downside guidance for Q3 (Sep), sees Q3 (Sep) revs at the lower end of its previously announced guidance of $66-70 mln vs. $67.97 mln Thomson Reuters consensus.
09:39 am Skyworks tgt raised to $25 at Oppenheimer on higher ests: . Oppenheimer is raising their tgt to $25 from $23 and their ests ahead of consensus, based on checks. The strength reflects a mix of a strong handset market, market share gains, and strong execution. They would be buyers of the shares ahead of the co's upcoming Sept. 21st analyst day. They expect mgmt to expand on Skyworks' growing TAM (total available market) and more importantly set a new mid-term operating target.
AI
Market Data 
Markets 
