June homebuilder sentiment leaped more than expected to a seven year high to boost the markets to a sharply higher open with the Dow surging 165 points to 15,235. Nasdaq soared 38 points to 3461.
On the upside
Kandi Technologies (Nasdaq: KNDI) began construction of its first pure electric vehicle smart vertical parking and charging facility in Hangzhou with expected completion in early July 2013. Between 5,000 to 10,000 Kandi pure EVs will be deployed within a year.
Shares of Yingli Green Energy (NYSE: YGE) and LDK Solar (NYSE: LDK) rose on news that China would provide easier financing to solar firms.
Lowe’s (Nasdaq: LOW) will pay approximately $205 million to acquire Orchard Supply Hardware Stores (Nasdaq: OSH).
On the downside
Terex (NYSE: TEX) cut its earnings guidance for the full year and forecast second quarter earnings that fell far short of analyst estimates.
Amicus Therapeutics (Nasdaq: FOLD) will delay the approval filing for its Fabry disease treatment Amigal.
Celsion (Nasdaq: CLSN) extended its losses.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 index climbed 15 points to 1642.
