Late Market Update

Shares of CardioNet BEAT dipped about 11.3% after the Centers for Medicare and Medicaid Services (CMS) proposed that the technical component of mobile cardiovascular telemetry should continue to be carrier-priced for 2011. BEAT expected to receive national reimbursement rate for its services. The US stocks have moved up, led by tobacco and telecommunications stocks. Tobacco stocks received a boost after the Supreme Court refused to re-open a landmark tobacco-industry ruling. The Dow Jones Industrial Average rose 0.1%, while the NASDAQ gained 0.3%. The S&P 500 index also moved up 0.3%, driven by tobacco companies. Reynolds American Inc RAI gained more than 4.5%, Altria Group Inc MO moved up 3.2% and Lorillard Inc LO rose 3.2%. The West Virginia Democrat, Senator Robert Byrd died overnight in Inova Fairfax Hospital in suburban Washington at age 92. With his service period lasting more than 50 years, he became the longest-serving member of Congress in the US history in a Senate career. Governor Joe Manchin mentioned, “Byrd made a significant mark as a member of Congress in both our state's and nation's history.” Read more from Benzinga's Markets.