Mixed Markets As GDP Revised Down

The nation's economy expanded at a lower 2% annual pace in the third quarter than originally estimated. The markets traded mixed during the midday with the Dow losing 8 points to 11,538 while Nasdaq rose 7 points to 2530.

On the upside

Forbes said yesterday that Kinross Gold (NYSE: KGC) was oversold.


Suntech Power (NYSE: STP) reported a loss for the third quarter but revenue rose to surpass analyst expectations and the company expects the German market to improve in 2012.

Valspar (NYSE: VAL) swung to a loss for the fourth quarter due to a significant impairment charge but the results beat analyst estimates.

On the downside


LivingSocial's national Black Friday deals weighed down shares of rival Groupon (Nasdaq: GRPN), which is not offering Black Friday bargains.


Morgan Stanley analyst Francois Meunier issued a cautious note on Alcatel-Lucent (NYSE: ALU) cut his fourth quarter revenue forecast citing a very difficult environment.

Third quarter earnings fell for Chico's FAS (NYSE: CHS) to miss expectations due to increased discounting.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 703.

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