Mixed Close Over Disappointing Income Data

The markets closed mixed with the Dow climbing 66 points to 13,212 as modest uptick in incomes tempered enthusiasm for higher consumer spending. Nasdaq lost 3 points to 3091.

On the upside

The Wall Street Journal reported that Liz Claiborne (NYSE: LIZ) engaged in possible acquisition discussions with several private equity firms.

ZaZa Energy (Nasdaq: ZAZA) expanded its Eaglebine trend holdings to more than 144,000 gross acres and will commence a six-well continuous drilling program in May 2012.

Shares of Rexnord (NYSE: RXN) continued to climb on its second trading day.

On the downside

Shares of Orexigen Therapeutics (NYSE: OREX) fell after a Food and Drug Administration advisory panel recommended the assessment of heart risks for obesity treatments.

Oppensheimer downgraded InvenSense (NYSE: INVN) to a Market Perform rating.

Forbes wrote that Sprint (NYSE: S) must expand its spectrum in order to compete with rivals Verizon (NYSE: VZ) and AT&T (NYSE: T).

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 830.

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