The markets closed modestly higher with the Dow gaining 57 points to 9743 as investors snapped up bargains. Nasdaq added 2 points to 2093.
On the upside
Bebe (Nasdaq: BEBE) announced a special one-time dividend of $1 per share payable on July 30 to shareholders of record July 21. The women's apparel retailer also said that it will shutter its PH8 and close all PH8 stores.
Basic Energy Services (NYSE: BAS) will release second quarter results after market close on Tuesday, July 27, 2010.
The Semiconductor Industry Association reported a 47.6% year over year gain in chip sales in May lifting shares of Intel (Nasdaq: INTC) and Micron Technology (Nasdaq: MU).
Spanish grocery store chain DinoSol selected Oracle Retail (Nasdaq: ORCL) planning applications to improve performance and profitability.
On the downside
Tesla Motor (Nasdaq: TSLA) stock tumbled below its offering price as investors locked in profits on the electric vehicle company.
Seagate Technology (Nasdaq: STX) entered a Supplemental Indenture to issue and guarantee 6.875% Senior Notes due 2020.
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks eased dropped 8 points to 590.
