Financial News

Mixed Markets As Japan Earthquake Monitored

The markets traded mixed during the midday with the Dow adding 10 points to 13,188 as investors monitored earthquake activity in Japan. Nasdaq slipped 2 points to 3037.

On the upside

LSI (NYSE: LSI) cited strong sales for lifting its first quarter earnings and revenue guidance.

SciClone Pharmaceuticals (Nasdaq: SCLN) reported sharply higher fourth quarter earnings that surpassed analyst expectations by a wide margin.


Fourth quarter earnings soared for Perma-Fix Environmental Services (Nasdaq: PESI) as revenue climbed.


On the downside


Zhongpin (Nasdaq: HOGS) warned of lower pork and hog prices in 2012 which will weigh down profit margins.


Falling gold prices weighed down shares of Goldcorp (NYSE: GG), Kinross Gold (NYSE: KGC) and Yamana Gold (NYSE: AUY).

Pacific Sunwear (Nasdaq: PSUN) widened fourth quarter losses as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 825.

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