Mixed Open On Economic Data
The markets opened mixed with the Dow adding 8 points to 13,604 while Nasdaq lost 6 points to 3129 as a report that China's economy expanded more than expected tempered news of an unexpected drop in consumer sentiment.
On the upside
Life Technologies (Nasdaq: LIFE) retained the services of Deutsche Bank Securities and Moelis & Co. to explore strategic options.
Shares of NuPathe (Nasdaq: PATH) continued rising after the Food and Drug Administration approved the company's Zecuity skin patch for migraine headaches.
Morgan Stanley (NYSE: MS) reversed year ago losses to post a stronger than expected profit for the fourth quarter.
On the downside
Intel (Nasdaq: INTC) reported lower fourth quarter earnings and revenue and forecast current quarter revenue below analyst expectations. Capital One Financial (NYSE: COF) reported higher fourth quarter earnings due to acquisitions but the results fell short of estimates.
Trius Therapeutics (Nasdaq: TSRX) priced its public offering of 6.3 million common shares at the discounted price of $4.75 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 index rose 7 points 1480.
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