U.S. rebounded sharply on Wednesday, putting the DOW positive for the year following a dismal stretch in May. Stocks across the globe jumped as speculation rose that European politicians will take steps to ease the region's debt crisis soon. Benchmark stock indexes rose 2.4 percent in Britain and France. Borrowing costs eased for Spain, another positive sigThe European Central Bank left its benchmark lending rate unchanged on Wednesday. The central bank has been urged to cut rates to alleviate pressure on Europe's weakened banks and governments, but bank President Mario Draghi has said the bank cannot make up for inaction by governments.
Laredo Petroleum Holdings Inc (NYSE:LPI) surged up 6.02% to $22.01. The Company has revised its production guidance and capital program for 2012. Total production for 2012 is expected in the range of 11.2 million to 11.9 million barrels of oil equivalent, an increase of 35% increase from 2011 production. The capital budget is around $900 million. The Company appointed Richard C. Buterbaugh as Senior Vice President of Investor Relations.
General Electric Company (NYSE:GE) increased 2.19% to $18.64 on a traded volume of 13.27 million shares. The Companies have completed the formation of Caradigm. This is a 50-50 joint venture of General Electric Co and Microsoft Corp aimed at enabling health systems and professionals to use real-time, organization-wide intelligence to improve healthcare quality and the patient experience. GE Monogram will open its first Midwest design centre location in Chicago at LuxeHome in The Merchandise Mart in March 2013.
Novacea Inc (NASDAQ:TSPT) moved down 1.50% to $6.55. The Company appointed John A. Kollins as Senior Vice President and Chief Business Officer, effective June 1, 2012. The management of the Company is scheduled to present at the Jefferies 2012 Global Healthcare Conference in New York on June 7, 2012.
A123 Systems Inc (NASDAQ:AONE) is up 0.36% to $0.994. The Company intends to hire up to 400 people over the next several months in response to increased business in its commercial transportation and grid operations. The Company is seeing demand for prismatic-based systems among commercial transportation and power-grid customers.
NuVasive Inc (NASDAQ:NUVA) surged up 6.18% to $20.45 on a traded volume of 526k shares. The Company will participate in several investor events in June 2012. Alex Lukianov, Chairman of the Board and Chief Executive Officer, is scheduled to present at the William Blair Growth Stock Conference at the Four Seasons Hotel in Chicago on June 12, 2012.