Markets Close Modestly Higher

The markets closed modestly higher with the Dow gaining 47 points to 10,062 over corporate earnings. Nasdaq added a point to 2173.

On the upside

Royale Energy (Nasdaq: ROYL) announced the discovery of a significant natural gas field.

DSW (NYSE: DSW) lifted its guidance for the year due to better than expected revenue.

Chicago Bridge & Iron (NYSE: CBI) received a contract valued at over $70 million to upgrade a Serbian oil refinery.

On the downside

Third quarter advertising revenue plunged for McClatchy (NYSE: MNI).

Sterlite Industries (NYSE: SLT) announced intentions to issue a convertible notes offering.

Cypress Semiconductor (NYSE: CY) blamed stock option expenses for swinging to a third quarter loss.

In the broad market, advancing issues edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 623.

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