Markets Slip Despite Gain In Consumer Sentiment

Despite a greater than expected gain in consumer sentiment, the markets slipped further into negative territory during the midday with the Dow losing 35 points to 9591. Nasdaq slipped 6 points to 2077.

On the upside

EDAP (Nasdaq: EDAP) announced that the Taiwan Department of Health approved the use of the company's Ablatherm-HIFU device to treat prostate cancer.

McClatchy (NYSE: MNI) will release third quarter earnings on October 15.

EnCana (NYSE: ECA) will split into an integrated oil company to be named Cenovus and a natural gas company that will retain the EnCana name.

On the downside

Compton Petroleum (NYSE: CMZ) announced the terms of its $150 million public offering.

Fourth quarter earnings for Brady (NYSE: BRC) plunged to fall short of expectations due to a drop in revenue.

MarineMax (NYSE: HZO) priced its offering of 2.6 million shares at $7 per share.

In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners edged out advancers by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 592.

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