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June 05, 2012 at 10:42 AM EDT
Services Sector Expands, Markets Open Higher
The nation's services sector expanded more than expected in May to lift the markets to a higher open with the Dow rising 20 points to 12,121. Nasdaq gained 13 points to 2773.
On the upside
Zoom Technologies (Nasdaq: ZOOM) received significant mobile phone orders from Micromax of India and Maxtron of Indonesia.
Complete Genomics (Nasdaq: GNOM) retained the services of Jefferies & Co. to explore strategic alternatives.
On the downside
Shuffle Master (Nasdaq: SHFL) reported higher second quarter earnings that were in line with analyst estimates but the stock price fell.
First quarter earnings soared for Dollar General (NYSE: DG) but revenue fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 743.
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