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Lower Open Ahead Of Fed Meeting Minutes
Posted on July 11, 2012 at 10:44 AM EDT
The markets opened lower with the Dow losing 16 points to 12,636 ahead of the release of minutes from the Federal Reserve's meeting. Nasdaq eased a point to 2901.
On the upside
VeriFone Systems (NYSE: PAY) won a five-year $35 million contract to install and support driver and passenger information and payment systems in 6,500 taxi cabs in Washington, D.C.
A Seeking Alpha contributor wrote that Nokia (NYSE: NOK) had much upside potential.
On the downside
First quarter losses for OCZ Technology (Nasdaq: OCZ) was larger than expected as expenses surged.
Prospect Capital (Nasdaq: PSEC) priced its public offering of 21 million common shares at the discounted price of $11.15 per share.
Goldcorp (NYSE: CMI) cut its production guidance for 2012.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 796.
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