Investors Mull Economic Data, Major Indexes Trim Gains
The major indexes trimmed their gains as investors mulled over the latest batch of economic data and drop in weekly unemployment claims. The Dow added 27 points to 13,013 while Nasdaq climbed 14 points to 3006 .
On the upside
Shares of Infoblox (Nasdaq: BLOX) surged after the networking company posted earnings that surpassed expectations.
Semtech (Nasdaq: SMTC) posted solid 3rd quarter profits as the semiconductor company raised its 4th quarter outlook.
Shares of Pandora Media (NYSE: P) rose ahead of its earnings announcement next week. The stock has recently rebounded from 52-week lows.
On the downside
Tiffany's (NYSE: TIF) posted higher sales of 4% versus year-ago levels, but the announcement missed expectations.
Shares of Hi-Tech Pharmacal (Nasdaq: HITK) fell ahead of next week's earnings announcement and ongoing probes of fraudulent billing.
Furniture maker La-Z-Boy (NYSE: LZB) posted higher revenues along with a slight drop in earnings due to higher marketing and store remodeling costs.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and on Nasdaq. The Russell
2000 which tracks small cap stocks rose 7 points to 821.