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June 08, 2012 at 10:40 AM EDT
Trade Deficit Narrows As Exports Tumble, Markets Open Mixed
The nation's trade deficit narrowed in April as both imports as well as exports tumbled. The markets opened mixed with the Dow losing 8 points to 12,452 while Nasdaq rose 5 points to 2836.
On the upside
Speculation that Nokia (NYSE: NOK) may be acquired lifted shares of the smartphone maker.
Bargain hunters lifted shares of Molina Healthcare (NYSE: MOH) whose stock price plunged yesterday after the company withdrew its full year guidance.
Francesca's Holdings (Nasdaq: FRAN) reported sharply higher first quarter earnings that more than doubled to surpass analyst expectations.
On the downside
FleetCor (NYSE: FLT) commenced a secondary offering of 6.75 million common shares.
Investors locked in profits on Yum! Brands (NYSE: YUM) whose stock price soared after announcing record sales of its Doritos Tacos.
ATP Oil & Gas' (Nasdaq: ATPG) newly appointed chief executive Matt McCarroll resigned after less than a week on the job.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 759.
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