Sales of previously owned homes fell in May but the drop was smaller than expected. The markets opened higher with the Dow gaining 62 points to 12,142 while Nasdaq climbed 37 points to 2667.
On the upside
Seeking Alpha contributor Chris Tomsovic wrote that National Bank of Greece (NYSE: NBG) appeared to be undervalued.
Level 3 Communications (Nasdaq: LVLT) will expand its network services into Telx's data center in Clifton, New Jersey.
China Real Estate Investment agreed to be Baidu's (Nasdaq: BIDU) premier strategic online real estate partner.
On the downside
Prospect Capital (Nasdaq: PSEC) priced its public offering of 10 million common shares at $10.15 per share.
Walgreen (NYSE: WAG) reported higher third quarter earnings but the stock price tumbled when the pharmacy benefits manager announced that it will no longer participate in the Express Scripts (Nasdaq: ESRX) network beginning January 1, 2012.
Renren (NYSE: RENN) narrowed first quarter losses. While the results and current quarter outlook both met analyst estimates, investors expected better performance.
