Stocks rise on GE upgrade despite weak employment data

U.S. stocks rose on Friday as investors took heart after the government said monthly payroll losses slowed, even as unemployment rose above 10 percent.

General Electric Co shares jumped more than 5 percent after a brokerage upgrade, and helped lead the industrial sector higher.

The market had opened lower after data showed the unemployment rate topped the psychologically key 10 percent level and reached the highest point since April 1983.

U.S. employers cut 190,000 jobs in October and unemployment hit its highest level since 1983. Despite the disturbing headline unemployment number, payroll losses continued to decline, which some investors saw as a mild positive as the hourly work week remained static.

The Dow Jones industrial average was up 17.84 points, or 0.18 percent, at 10,023.80. The Standard & Poor’s 500 Index rose 2.30 points, or 0.22 percent, at 1,068.93. The Nasdaq Composite Index increased 7.87

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Pure Earth, Inc. was awarded a $14 million contract in connection with the construction of a new sports facility for the New Jersey Nets in Brooklyn, N.Y. The company said that its previous work in this area was integral in securing the contract.

The contract is to treat and possibly reuse the contaminated soil that will be removed from the site in preparation for construction.

“This is a huge award in what has been a very challenging year for Pure Earth, Inc. We have continued to focus on establishing a superior network of facilities which can provide cost-effective services in the market place. The Company believes that this award, along with the increased bidding activity and anticipated future project awards, should return its base business to levels it achieved in 2007 when the Company had $6.9 million of positive cash flow,” said Mark Alsentzer, the CEO of Pure Earth,

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Applied Nanotech Holdings, Inc. (OTCBB: APNT) announced that it has been selected by the U.S. Department of Energy to receive a contract of approximately $750,000 for the development of non-contact, printable metallic inks for silicon solar cells.

MedLink International, Inc. (OTCBB: MLKNA) is pleased to announce the appointment of Abha Agrawal, MD, FACP to the company’s Medical Advisory Board. Dr. Agrawal is the Interim Medical Director of Kings County Hospital Center, Brooklyn, NY. Prior to this role, she was the Chief Medical Information Officer of the Central Brooklyn Family Health Network (CBFHN) and the Associate Medical Director of Kings County

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