Mixed Close As Mortgage Rates Drop

A drop in mortgage rates tempered disappointment with jobless claim numbers. The markets closed mixed with the Dow rising 19 points to 13,145 while Nasdaq lost 9 points to 3095.

On the upside

Sprint (NYSE: S) will introduce its new LTE 4G network midyear.

Deer Consumer Products (NYSE: DEER) reported higher full year results as revenue climbed.

South Korea's Maeil Business Newspaper reported that E-Land was preparing to make a $1.8 billion offer to acquire Collective Brands (NYSE: PSS).

On the downside

Mosaic (NYSE: MOS) disappointed with sharply lower third quarter earnings that fell short of analyst expectations.

Newcastle Investment (NYSE: NCT) priced its public offering of 16.5 million common shares at the discounted price of $6.22 per share.

Cabot Oil & Gas (NYSE: COG) reported a flash fire at its Lathrop compressor station.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 823.

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