The markets closed modestly higher with the Dow rising 23 points to 11,559 as existing home sales rose sequentially but tumbled from year ago levels. Nasdaq gained 3 points to 2671.
On the upside
MI Developments (NYSE: MIM) will convert all Class A and Class B stock into common shares.
Rediff.com's (Nasdaq: REDF) streaming music service SongBuzz announced the top ten Bollywood songs of the year.
Apricus Biosciences (Nasdaq: APRI) licensed the exclusive marketing rights for its erectile dysfunction treatment Vitaros in Italy to Bracco.
On the downside
First quarter earnings for Lindsay (NYSE: LNN) tumbled to fall far short of analyst expectations.
Solar technology firm SpectraWatt, which was spun off from Intel (Nasdaq: INTC), will shutter a factory in New York.
The Internal Revenue Service notified Boston Scientific (NYSE: BSX) that the medical device maker owed at least $525 million in taxes related to its acquisition of Guidant.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 790.
