Flat Close As Upbeat Domestic Economic News Tempers Global Concerns
The markets closed flat with the Dow slipping 6 points to 12,496 while Nasdaq rose 11 points to 2850. Retreating crude oil prices and stronger than expected new home sales tempered Eurozone fears.
On the upside
A Seeking Alpha contributor wrote yesterday that Westport Innovations (Nasdaq: WPRT) had a substantially larger patent portfolio than its competitors.
Goldcorp (NYSE: GG) was declared a steal by a Seeking Alpha contributor.
Talbots (NYSE: TLB) extended acquisition discussions with Sycamore Partners for the second time.
On the downside
A Seeking Alpha article noted that Nokia's (NYSE: NOK) cash reserves plunged by $2.1 billion over the last five quarters and analysts expect the company to burn another $2.5 billion in the next three quarters.
Ralcorp Holdings (NYSE: RAH) reported lower second quarter earnings even as revenue increased.
Shares of Hugoton Royalty Trust (NYSE: HGT) continued falling.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by a nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 765.