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June 12, 2012 at 10:43 AM EDT
Mixed Open As Investors Eyed European Developments
The markets opened mixed with the Dow rising 12 points to close at 12,424 while Nasdaq lost 5 points to 2804 as investors continued to monitor developments in Europe.
On the upside
Michael Kors Holdings (NYSE: KORS) reported sharply higher fourth quarter earnings that more than doubled to beat analyst expectations and the company forecast full year results ahead of estimates.
A123 Systems (Nasdaq: AONE) unveiled its new Nanophosphate EXT lithium ion battery technology that can operate at extreme temperatures.
Bargain hunters lifted shares of EnergySolutions (NYSE: ES) whose stock price plunged yesterday after the company cut its full year outlook.
On the downside
A jury ruled against VeriFone Systems (NYSE: PAY) in a patent infringement case.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 750.
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