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Mixed Close As Investors Monitor Global Economy
Posted on May 24, 2012 at 18:03 PM EDT
The markets closed mixed with the Dow rising 33 points to 12,529 as investors weighed the impact of a shrinking manufacturing sector in China against retreating crude oil prices. Nasdaq lost 10 points to 2839.
On the upside
First quarter earnings slipped for Flower Foods (NYSE: FLO) as expenses climbed but revenue rose to top analyst expectations and the bakery products company forecast full year earnings ahead of estimates.
Stockpickr noted that Vermillion (Nasdaq: VRML) was one of seven stocks under $10 that surged higher.
STR Holdings (NYSE: STRI) shareholders appointed PricewaterhouseCoopers to be the company's independent registered public accounting firm and elected nine individuals to the Board of Directors.
On the downside
Greenlight Capital sold its holdings in OmniVision Technologies (Nasdaq: OVTI).
LDK Solar (NYSE: LDK) affirmed its commitment to delivering high quality products at competitive prices despite being subject to a preliminary antidumping tariff rate of 31.18% in the United States.
Monro Muffler Brake (Nasdaq: MNRO) reported higher fourth quarter earnings and revenue but the automotive repair company forecast first quarter results that fell short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by a nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 766.
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