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Retail Sales Rise But Markets Fall
Posted on November 15, 2011 at 09:45 AM EST
The markets opened lower with the Dow losing 18 points to 12,060 even as October retail sales rose. Nasdaq slipped 3 points to 2654.
On the upside
Chimera Investment (NYSE: CIM) that its economic book value as of September 30 was a better than expected $3.01.
MicroStockProfit.com issued a research report on Pacific Ethanol (Nasdaq: PEIX).
On the downside
Geron (Nasdaq: GERN) blamed high costs for discontinuing its stem cell research programs.
Penn Virginia Resource Partners (NYSE: PVR) priced its offering of 7 million common units at $24.55 per unit.
Sterne Agee downgraded American Airlines parent AMR (NYSE: AMR) to a Neutral rating.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 729.
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