LONDON (ShareCast) - The offer by Italian Prime Minister Silvio Berlusconi to resign perked up share prices on the other side of the pond.

Berlusconi has pledged to give up his office after the Italian parliament passes the austerity package required by the European Union. The decision came after Berlusconi failed to secure backing from a majority of voters in the Chamber of Deputies in a routine motion in the afternoon.

The Dow-Jones industrial average rose 102 points to 12,170, the S&P 500 jumped 15 to 1,276 and the NASDAQ Composite advanced 32 to 2,727.

Online travel agency Priceline led the S&P higher after third quarter figures came in ahead of expectations. Underlying earnings per share of $9.95 topped the consensus forecast of $9.30.

The industrial machine company Rockwell Automation was another higher flyer, after it reported earnings per share (EPS) of $1.39, more than the $1.21 expected. Net income rose to $201m compared to $131m in the same period of 2010.

Fast food leviathan McDonald’s was barely changed despite announcing a 5.5% rise in same-store sales for the month of October.

Computer games maker Activision Blizzard finished well off the day’s highs despite the release of the 8th edition of its hugely popular ‘Call of Duty’ video-game. After the bell, the company lifted its full-year earnings guidance after releasing forecast-busting third-quarter figures.

Analysts at Citi have upgraded their view on industrial conglomerate Honeywell to 'buy' from 'hold'. Research in Motion is being weighed down by a negative research note out from Barclays.

Like-for-like sales at retailer Urban outfitters fell 7% in October.

International Flavors & Fragrance was down very sharply after guiding lower for all of 2011.


MACROECONOMY:

The NFIB’s small business confidence index improved by 1.3 points to the 90.2 mark in October.

OTHER MARKETS

The price of West Texas crude for December delivery rose for the fifth day in succession, climbing $1.28 to $96.80 a barrel. OPEC has raised its oil demand forecasts out to 2015.

10 year US treasuries reversed course as equities surged, and finished down by 11/32 dollars, with yields hardening to 2.08% from 2.04% overnight.


S&P 500 - Risers
Priceline.Com Inc. (PCLN) $552.85 +8.61%
Rockwell Automation Inc. (ROK) $74.33 +6.47%
Devon Energy Corp. (DVN) $69.37 +5.30%
Regions Financial Corp. (RF) $4.38 +5.29%
Baker Hughes Inc. (BHI) $59.38 +4.54%

S&P 500 - Fallers
International Flavors & Fragrances Inc. (IFF) $55.03 -10.24%
Eastman Kodak Co. (EK) $1.14 -4.20%
Pioneer Natural Resources Co. (PXD) $88.59 -3.74%
Urban Outfitters Inc. (URBN) $26.34 -3.20%

Dow Jones I.A - Risers
3M Co. (MMM) $81.83 +2.69%
Wal-Mart Stores Inc. (WMT) $59.32 +2.38%
JP Morgan Chase & Co. (JPM) $35.02 +2.28%

Dow Jones I.A - Fallers
Hewlett-Packard Co. (HPQ) $27.84 -0.14%
International Business Machines Corp. (IBM) $187.12 -0.11%
McDonald's Corp. (MCD) $94.60 -0.02%

Nasdaq 100 - Risers
Hologic Inc. (HOLX) $17.84 +9.92%
Priceline.Com Inc. (PCLN) $552.85 +8.61%
Qiagen N.V. (QGEN) $14.66 +5.47%
Life Technologies Corp. (LIFE) $41.71 +4.07%

Nasdaq 100 - Fallers
Vertex Pharmaceuticals Inc. (VRTX) $30.45 -8.34%
Urban Outfitters Inc. (URBN) $26.34 -3.20%
Seagate Technology Plc (STX) $17.88 -2.56%
Expedia Inc. (EXPE) $28.22 -2.15%

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