November 20, 2007 at 16:22 PM EST
Closing Bell Report
Despite record crude oil prices that surged to close at $98.03 a barrel, the markets closed higher after the Federal Reserve forecast moderate inflation next year. The Dow climbed 52 points to 13,010 while Nasdaq added 3 points to 2597.
On the upside
Shares of human resources software provider SuccessFactors (Nasdaq: SFSF) soared on its first trading day.
Barnes & Noble (NYSE: BKS) reversed year ago losses to report a profit for the third quarter as sales rose and lifted its full year outlook.
On the downside
While Noah Education (NYSE: NED) reported higher first quarter earnings, increased expenses weighed down margins.
Zarlink Semiconductor (NYSE: ZL) blamed eroding demand in the telecommunications sector for lowering its third quarter guidance.
BMO Capital Markets analyst Michael Vinciquerra said in a client note that E-Trade's (Nasdaq: ETFC) competitors are planning to lure away the online brokers' customers.
In the broad market, advancing issues were on par with deliners on the NYSE while decliners outpaced advancers by a margin of 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost a point to 749.
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