Despite a drop in homebuilder sentiment, the markets closed higher with the Dow gaining 56 points to 10,154 over merger and acquisition news. Nasdaq climbed 19 points to 2198.
On the upside
Evergreen International Balanced Income Fund (NYSE: EBI) will liquidate the fund after business close on Monday, August 16, 2010.
Motorola (NYSE: MOT) will sell its wireless networks business to Nokia Siemens Networks for approximately $1.2 billion.
Shares of Arena Pharmaceuticals (Nasdaq: ARNA) continued to soar on hopes that its obesity treatment lorcaserin.
On the downside
Shares of Apple (Nasdaq: AAPL) fell ahead of its earnings release tomorrow as analysts voiced concerns that profit margins may disappoint.
Goldman Sachs removed Bank of America (NYSE: BAC) from its conviction buy list.
Radio One (Nasdaq: ROIAK) extended the expiration date of its exchange offer to July 31 from July 15..
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 613.
