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Mixed Close Despite Upbeat Economic Data
Wednesday November 04, 2009 - 15:50 PM EST
It was a mixed close for the markets with the Dow gaining 30 points to 9802 despite upbeat economic news as investors continue to fret about the economic recovery. Nasdaq eased a point to 2055.
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It was a mixed close for the markets with the Dow gaining 30 points to 9802 despite upbeat economic news as investors continue to fret about the economic recovery. Nasdaq eased a point to 2055.
On the upside While third quarter earnings for Digital River (Nasdaq: DRIV) slipped, the results topped analyst estimates prompting an upgrade. RehabCare Group (NYSE: RHB) will pay approximately $570 million to acquire Triumph Healthcare. National Financial Partners (NYSE: NFP) reported sharply higher third quarter earnings that beat expectations. On the downside Jakks Pacific (Nasdaq: JAKK) announced a private placement of senior convertible notes to raise $85 million. Conway (NYSE: CNW) reported sharply lower revenue and earnings that fell short of estimates. Third quarter earnings for Charles River Laboratories (NYSE: CRL) fell as revenue dropped and the company lowered its full year guidance. In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE while declining issues edged out advancers by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 7 points to 563.
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