Mar. 26, 2009 (Investor's Business Daily) -- Indexes rallied for the second straight session Thursday.
The Nasdaq jumped 3.8%, reaching positive territory for the year. The Dow and S&P 500 each climbed 2.3% and the NYSE composite stepped up 2%.
Volume rose across the board.
Longtop Financial Technologies (LFT )hit a new high, popping 0.74 to 21.67 in more than triple its usual pace. The Chinese banking software maker signed an agreement with a northern China bank to provide data integration services.
Cardiac monitoring device maker CardioNet (BEAT) rose 2.06 to 29.37 in hefty trade. The stock appears to be forming the right side of a base.
Balchem (BCPC) leapt 1.33 to 24.32 in more than double action. The thinly traded chemical producer is climbing out of a three-month consolidation.
Auto repair chain Monro Muffler Brake (MNRO )sped up 0.75 to 27.90 in fat volume as it continued to climb after finding support at its 10-week moving average.
On the downside, food manufacturer Ralcorp (RAH) wilted 2.41 to 53.49 in nearly three times its average trade, giving up all its gains for the week. The stock remains under its 50-day and 200-day moving averages.
Carlisle (CSL) slid 1.46 to 20.64 in rapid action after KeyBanc downgraded the diversified manufacturer to underweight from hold, citing a weak outlook and valuation.
Chinese online gaming firm Shanda Interactive Entertainment (SNDA) slid 1.65 to 37.73 in more than double its average volume after Roth Capital downgraded the stock to sell from hold. Shares remain up 12% from a 33.70 buy point.
