Stock Indexes Advance, Oil Dips, BlackRock Buys Lehman Shares

US stock indexes advanced aggressively across the board on declining oil prices and lessening of inflation fears. The DJIA gained +165.77 to 12307.35, the Nasdaq climbed +50.15 to 2454.50 and the S&P 500 grew by +20.16 to 1360.03.

Lehman Brothers (LEH | Quote | Chart | News | PowerRating) The beleaguered financial concern led the S&P 500 higher today adding 13.88% or $3.23 to $25.93/share after the BlackRock Fund purchased shares in the company, during a secondary offering and expressed confidence in the firms new leadership.

Apollo Group (APOL | Quote | Chart | News | PowerRating) added 7.59% or $3.71 to $52.19/share after the university operator stated they would increase tuition by 10% and were upgraded to "overweight" by First Analyst Corporation.

Coca Cola (KO | Quote | Chart | News | PowerRating) lost the most in over three years falling 3.06% or $1.71 to $55.41/share after cutting annual sales and profit forecast

Fifth Third Bancorp (FITB | Quote | Chart | News | PowerRating) plummeted to its worst loss ever, giving back 10.35% or $1.52 to $13.17/share after BMO Capital reduced its rating to "market perform".

Oil dipped $2.08 to $134.66/barrel after the Saudis announced the opening of a new oil field. Gold added $1.03 to $873.10 and the dollar continued to gain against the Euro.

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