The markets opened mixed as investors mulled over the latest batch of mixed economic data. A disappointing profit report from Oracle weighed down the software sector. The Dow rose 33 points to 12,456 while Nasdaq lost 15 points to 2309.
On the upside
Shares of Clear Channel Communications (NYSE: CCU) rose after a Texas judge ordered hesitant banks to fulfill their obligations to complete the proposed $19.5 billion buyout of the nation's biggest radio station operator by private equity firms.
Homebuilder Lennar Corp. (NYSE: LEN) posted another loss amid the weak housing market. However, the results were better than expected.
ConAgra Foods (NYSE: CAG) posted higher earnings as revenues surged. The food maker also boosted its outlook for the year.
On the downside
Preliminary reports on click-thru rates for online ads revealed another flat month for Google (Nasdaq: GOOG).
Oracle (Nasdaq: ORCL) posted earnings that met expectations, but top-line revenue totals concerned analysts.
Children's book publisher Scholastic (Nasdaq: SCHL) posted a wider 3rd quarter loss due to one-time charges related to discontinued operations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE, but were narrowly edged out on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 699.
