Markets Mixed Over Rising Unemployment

Rising unemployment dampened investor enthusiasm during the midday. The markets traed mixed with the Dow slipping 30 points to 7948 while Nasdaq added 5 points to 1607.

On the upside

Century Aluminum (Nasdaq: CENX) announced the termination of Senior Vice President of Business Development Giulio Casello effective April 30, 2009.

Melco Crown Entertainment (Nasdaq: MPEL) introduced its Quality of Life program that offers employees the option of a compressed workweek.

Charming Shoppes (Nasdaq: CHRS) named James Fogarty to the position of chief executive, replacing Dorrit J. Bern who resigned from the women's apparel retailer in July 2008.

On the downside


Hutchinson Technology (Nasdaq: HTCH) reported sharply lower second quarter sales and announced that Seagate Technology will no longer purchase suspension assemblies from Hutchinson.

Roth Capital downgraded Alkermes (Nasdaq: ALK) over concerns that a diabetes medication in development may cause thyroid cancer.

AngloGold Ashanti (NYSE: AU) warned that its first quarter production is below guidance.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 449.

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