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Mixed Close As New Home Sales Drop

The markets closed mixed with the Dow gaining 74 points to 13,001 as new home sales dropped last month. Nasdaq fell 8 points to 2961.

On the upside

First quarter earnings plunged for Juniper Networks (NYSE: JNPR) due to product adoption delays but the results were better than expected.

Affymax (Nasdaq: AFFY) and Takeda Pharmaceutical will begin selling their once-a-month injection treatment for anemia caused by kidney disease.

Carlisle Companies (NYSE: CSL) reported sharply higher first quarter earnings that surpassed analyst expectations by a wide margin.

On the downside

TheStreet expects Galena Biopharma's (Nasdaq: GALE) breast cancer vaccine NeuVax to fail its Phase III clinical trial.

Jefferies analyst Thomas Seltz cited Verizon's (NYSE: VZ) spectrum sale for downgrading Clearwire (Nasdaq: CLWR) to a Hold rating.

ARM Holdings (Nasdaq: ARMH) reported higher first quarter earnings and revenue but the chip design company forecast full year results below estimates.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 798.

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