The markets opened mixed with the Dow adding a point to 10,762 while Nasdaq lost 12 points to 2336 after the Federal Reserve took no action yesterday to bolster the faltering economy.
On the upside
Origin Agritech (Nasdaq: SEED) announced a worldwide agreement for the exclusive rights to sell and develop products containing the Bt-gene, an insecticide.
CarMax (NYSE: KMX) reported higher second quarter earnings that topped analyst estimates as consumers purchased more used cars.
Rumors circulated that IBM (NYSE: IBM) may acquire Brocade Communications Systems (Nasdaq: BRCD).
On the downside
Third quarter earnings surged for Adobe Systems (Nasdaq: ADBE) but the software company warned that current quarter revenue would fall short of expectations.
eBay (Nasdaq: EBAY) announced that Lorrie Norrington, president of its largest division, will be leaving the online marketplace.
Vical's (Nasdaq: VICL) treatment for severe cardiovascular obstructions in limbs failed a Phase III clinical trial.
In the broad market, advancing issues edged out decliners by a margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 662.
