Mixed Open As Investors Eyed European Developments
The markets opened mixed with the Dow rising 12 points to close at 12,424 while Nasdaq lost 5 points to 2804 as investors continued to monitor developments in Europe.
On the upside
Michael Kors Holdings (NYSE: KORS) reported sharply higher fourth quarter earnings that more than doubled to beat analyst expectations and the company forecast full year results ahead of estimates.
A123 Systems (Nasdaq: AONE) unveiled its new Nanophosphate EXT lithium ion battery technology that can operate at extreme temperatures.
Bargain hunters lifted shares of EnergySolutions (NYSE: ES) whose stock price plunged yesterday after the company cut its full year outlook.
On the downside
Shares of Zynga (Nasdaq: ZNGA) continued falling after the Wall Street Journal reported yesterday that Facebook (Nasdaq: FB) user growth slowed in April.
Apple's (Nasdaq: AAPL) announcement yesterday that it would integrate its Siri voice technology into automobiles sank shares of audio products company Harman International (NYSE: HAR).
A jury ruled against VeriFone Systems (NYSE: PAY) in a patent infringement case.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 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 750.