Markets rally on possible ECB bond purchases

The markets rallied to a sharply higher close with the Dow rocketing 215 points to 16,614 on upbeat home sales and possible bond purchases by the European Central Bank. Nasdaq shot up 88 points to 4,419.

On the upside

ZaZa Energy (Nasdaq: ZAZA) extended its gains.

Pivotal Research initiated coverage of Herbalife (NYSE: HLF) with a Buy rating and set a price target of $110.

Enphase Energy (Nasdaq: ENPH) introduced its Enphase Energy Management System to integrate solar power into power grids.

On the downside

A Seeking Alph article alleged that there was a law enforcement investigation into Blue Earth (Nasdaq: BBLU), that the company paid for stock promotion services and engaged in fraudulent activities.

Investors locked in profits on ITT Educational Services (NYSE: ESI).

Third quarter earnings slipped for Rent-A-Center (Nasdaq: RCII) while revenue missed expectations prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 jumped 37 points to 1941. Bitcoin edged up $1 to $382.
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