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Byline: CRAIG SHAW
A rally to start the fourth quarter lifted the Nasdaq composite 3.6% Tuesday as a deal between Iraq and the U.N. calmed war fears. Volume edged up from Monday, again topping the index's 50-day average.
School stocks produced breakouts. Career Education Corp. gapped out of a 14-week base, rising 3.03, or 6.3%, to an all-time closing high of 51.04. The postsecondary education firm was to replace Pennzoil-Quaker State in the S&P MidCap 400 Index after the close of trading Tuesday. It's featured in Nasdaq Stocks In The News on page B8.
Education Management tacked on gains after last week's breakout. It rose 1.79 to 46.06 on triple normal trade. Its Earnings Per Share Rating of 98 and SMR Rating of A reflect its steady double-digit profit and sales growth.
New issue CTI Molecular Imaging also built on its breakout. The maker of PET scanning devices climbed 0.55 to 25.85 on more than 2 1/2 times normal trade. It's gained 18% in the past five days and now stands 52% above its June IPO price of $17.
Merit Medical Systems bounced back after two days of losses, rising 1.39 to ...