Author: Elena Todorova
123jump.com
Last Update: 11:55 AM EDT April 12 2007

U.S. stocks reversed from early losses, as investors turned to bargain hunting, looking past warnings of lighter retail sales in April, losses for Research in Motion and rising oil prices. The major averages benefited from significant strength among biotechnology stocks, led by MedImmune which surged 12% on news that it is considering a sale of the company.