Mid-Day Report

The markets traded modestly higher during the midday even as oil prices spiked over supply concerns. The Dow gained 43 points to 13,586 while Nasdaq added 3 points to 2799.

On the upside

DivX (Nasdaq: DIVX) reported lower third quarter earnings but the results beat expectations and the company lifted its full year revenue outlook.

Rising revenue helped Tenet Healthcare (NYSE: THC) to narrow third quarter losses.

IStar Financial (NYSE: SFI) reported higher third quarter revenue due to its acquistion of Fremont General and increased its quarterly dividend from 82.5 cents per share to 87 cents per share.

On the downside

The Food and Drug Administration denied approval for Momenta Pharmaceuticals' (Nasdaq: MNTA) blood clotting treatment enoxaparin.

Cognizant Technology Solutions (Nasdaq: CTSH) reported higher third quarter earnings that beat expectations but the company forecast fourth quarter revenue below estimates.

Although Cooper Tire & Rubber (NYSE: CTB) swung to a third quarter profit, the revenue fell short of expectations.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 9 to 7on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 789.

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