Lower Jobless Rate Lifts Markets

A surprise drop in the unemployment rate triggered a morning rally, but investors quickly took profits. The Dow was up only 22 points to 12,042 while Nasdaq climbed 6 points to 2632.

On the upside

Shares of Zumiez (Nasdaq: ZUMZ) rocketed higher after the teen apparel retailer posted higher earnings and reported higher same store sales.


Mitel Networks (Nasdaq: MITL) posted higher 2nd quarter revenues while profits rose due to a boost in tax benefits.


Alexander & Baldwin (Nasdaq: ALEX) announced plans to split into two companies: one focused on ocean transports and the other on its Hawaii-based land and agriculture business.


Shares of Old Republic Internationial (NYSE: ORI) rose sharply after the insurer was added to one of S&P's high-yield dividend index.


On the downside


Shares of H&R Block (NYSE: HRB) fell after the tax preparer posted a wider quarter loss.


Teavana Holdings (NYSE: TEA) posted its 3rd quarter results showing growing revenues, but some investors worried about higher costs associated with new store openings.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 736.

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