Oil Prices Rise While Job Losses Ease, Markets Mixed At Midday

The markets traded mixed during the midday as rising oil prices tempered news of smaller than expected job losses. The Dow rose 53 points to 8464 while Nasdaq slipped 2 points to 1751.

On the upside

APAC Customer Services (Nasdaq: APAC) reversed year ago losses to post a profit for the first quarter as revenue rose.

ArvinMeritor (NYSE: ARM) swung to a second quarter loss but the loss was smaller than expected prompting an upgrade.

Fortress Investment Group (NYSE: FIG) narrowed first quarter losses even as revenue fell and assets dropped.

On the downside

While American Capital (Nasdaq: ACAS) narrowed first quarter losses, the loss was greater than analysts expected.

Although Pulte Homes (NYSE: PHM) narrowed first quarter losses, revenue tumbled to fall short of estimates.

Delta Petroleum (Nasdaq: DPTR) widened first quarter losses as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 501.