Strong Jobs Data Sends Markets Soaring

Investors embraced upbeat jobs data to send the markets soaring during the midday with the Dow leaping 151 points to 14,982. Nasdaq surged 41 points to 3381.

On the upside

Weatherford International (NYSE: WFT) reported lower first quarter earnings but revenue rose and the company expects profit margins and income to improve.

First quarter earnings fell for American Axle & Manufacturing Holdings (NYSE: AXL) but the results were better than expected.

YRC Worldwide (Nasdaq: YRCW) narrowed first quarter losses and posted an operating income for the first time in six years.

On the downside

First quarter earnings plunged for ZAGG (Nasdaq: ZAGG) to fall short of analyst expectations on lower revenue prompting the company to lower its full year guidance.

LinkedIn (NYSE: LNKD) reported sharply higher first quarter earnings and revenue that surpassed analyst expectations but the online professional networking service forecast current quarter and full year revenue below estimates.

American Capital Agency (Nasdaq: AGNC) fell to a comprehensive loss for the first quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 index soared 17 points to 1615.

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