Mixed Markets As New Home Sales Drop

The markets traded mixed during the midday with the Dow rising 14 points to 12,771 as a drop in December new home sales tempered strong corporate earnings. Nasdaq lost 7 points to 2811.

On the upside

J.C. Penney (NYSE: JCP) announced a new pricing strategy and logo and will redesign the layout of its stores.

US Airways (NYSE: LCC) retained the services of Millstein & Co., Barclays and Latham & Watkins to explore the possible acquisition of bankrupt American Airlines.

PTC (Nasdaq: PMTC) reported higher first quarter earnings that topped analyst estimates.

On the downside

An appeals court granted Amphastar a stay in a patent infringement suit filed by Momenta Pharmaceuticals (Nasdaq: MNTA).

Carbo Ceramics (NYSE: CRR) reported higher fourth quarter earnings but the results fell far short of analyst expectations.

Fourth quarter earnings dropped for Covance (NYSE: CVD) as gross margin fell prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 794.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here