The Standard & Poor's MidCap 400 index rose Wednesday with gains posted by Entercom Communications Corp., Silicon Laboratories Inc., and retailer Chico's FAS Inc.
The S&P MidCap 400 is an index used to track mid-sized companies which have a market capitalization of $1.5 billion to $5.5 billion. According to S&P, midcap stocks make up roughly 7 percent of the U.S. equities market.
The index rose 5.89 points to 848.71.
Shares of radio broadcaster Entercom Communications rose 63 cents, or 9 percent, to $7.66, but set a 52-week low of $6.31 earlier in the session.
Shares of Silicon Laboratories rose $3.14, or 8.8 percent, to $38.98. The chip maker is buying Integration Associates for $80 million and boosted its second-quarter profit outlook.
Chico's FAS's stock rose 44 cents, or 7.5 percent, to $6.35.
On the losing side, American Greetings Corp.'s stock declined $3.48, or 19 percent, to $14.82. The nation's second-biggest greeting card company said first-quarter earnings slipped 56 percent on softer margins and higher expenses. Shares set a five-year low of $14.30.
Shares of BE Aerospace Inc. declined $3.22, or 10.6 percent, to $27.21.
Arch Coal Inc.'s stock declined $4.63, or 6.4 percent, to $68.21.
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