Although oil prices retreated, the markets closed mixed as uncertainty over Lehman Brothers' future weighed on investors. The Dow slipped 12 points to 11,422 while Nasdaq added 3 points to 2261.
On the upside
Radian Group (NYSE: RDN) announced that it will continue insuring loans for Fannie Mae (NYSE: FNM) and Freddie Mac (NYSE: FRE).
Shares of Agnico-Eagle Mines (NYSE: AEM) surged as gold prices climbed.
On the downside
Diodes (Nasdaq: DIOD) said that third quarter income will be at the low end of its forecast range due to the slowdown in the economy.
Morgan Keegan downgraded Buffalo Wild Wings (Nasdaq: BWLD) citing valuation concerns.
Qiao Xing Mobile Communications (NYSE: QXM) disappointed with sharply lower earnings and revenue due to the delayed release of it new VEVA S60 as well as a drop in sales after the devastating Sichuan earthquake.
In the broad market, advancing issues outpaced decliners by a margin of 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 added a point to 720.
