.S. stocks recovered most of Wednesday's losses, with financial stocks leading the advance. Commodity prices continued their rapid descent and the dollar rose.
The Dow gained +261.66 , the Nasdaq Compsite +48.15, and the S&P 500 +31.09. The markets are closed on Friday in observance of the Easter holiday.
Nike (NYSE:NKE - News) jumped 8.4% after beating earnings estimates. NKE's Short Term PowerRating is 5.
Carnival Corp. (NYSE:CCL - News) also gained 8.4% after reporting earnings above expectations. CCL's Short Term PowerRating is 4.
Shares of CIT Group (NYSE:CIT - News) plunged as much as 42%, before closing down 17%, after Fitch Ratings said the company may need to use a $7.3 billion backup credit line. CIT's Short Term PowerRating is 6.
Bain Capital and its Chinese partner dropped their $2.2 billion bid for 3Com (NasdaqGS:COMS - News) after failing to reach an agreement that would satisfy the U.S. government's national security concerns. COMS' Short Term PowerRating is 6.
After the close, Palm (NasdaqGS:PALM - News) missed estimates by -$0.02, reporting a loss of -$0.16 per share. PALM's Short Term PowerRating is 5.
Before the market open on Monday, Walgreen (NYSE:WAG - News) is expected to report earnings of $0.67. WAG's Short Term PowerRating is 4.
Do you think Goldman Sachs (NYSE:GS - News) will close up or down on Tuesday? GS' Short Term PowerRating is 3. Play TradingMarkets Up or Down Daily Stock Contest for the chance to win $1000 every month by predicting the direction of a stock.
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