Mixed Markets Over Global Growth Concerns
The markets traded mixed during the midday with the Dow slipping 22 points to 13,512 as global growth concerns tempered enthusiasm for upbeat corporate earnings. Nasdaq gained 11 points to 3122.
On the upside
UBS Financial Services (NYSE: UBS) will settle an auction-rate securities dispute by paying ClearOne (Nasdaq: CLRO) $45 million.
Buckingham initiated coverage of Constellation Brands (NYSE: STZ) with a Buy rating.
Christopher & Banks (NYSE: CBK) lifted its fourth quarter same store sales growth forecast.
On the downside
Shares of Trina Solar (NYSE: TSL) fell after the World Bank cut the growth forecast for China. Chipotle Mexican Grill (NYSE: CMG) blamed higher food costs for forecasting fourth quarter earnings below analyst expectations.
Crocs (Nasdaq: CROX) warned that the holiday shopping season was difficult for the maker of colorful plastic footwear.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index edged up a fraction to 1473.
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