The markets closed modestly higher with the Dow rising 32 points to 12,392 as earnings season began with aluminum producer Alcoa meeting expectations. Nasdaq gained 2 points to 2676.
On the upside
Netflix (Nasdaq: NFLX) launched its subscription Internet streaming service in the United Kingdom and Ireland.
A Seeking Alpha contributor listed Elan (NYSE: ELN) as one of thirty stocks expected to beat the S&P 500 by 5 points.
The Food and Drug Administration reversed itself and will now allow women of child bearing age to use Vivus' (Nasdaq: VVUS) experimental weight loss treatment Qnexa.
On the downside
A blog on Chinese social networking site Tianya alleged that Perfect World (Nasdaq: PWRD) was under investigation for fraud.
IPC The Hospitalist (Nasdaq: IPCM) cut its fourth quarter outlook.
CL King downgraded Steris (NYSE: STE) to a Sell rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 753.
