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April 24, 2012 at 14:55 PM EDT
Markets Mixed As Home Prices Fall
The markets traded mixed during the midday as falling home prices tempered enthusiasm for upbeat earnings. The Dow climbed 86 points to 13,013 while Nasdaq lost 11 points to 2959.
On the upside
Parker Hannifin (NYSE: PH) reported higher third quarter earnings that surpassed analyst expectations.
First quarter earnings climb for Align Technology (Nasdaq: ALGN) to beat estimates and the company forecast second quarter results ahead of expectations.
Lennox International (NYSE: LII) reversed year ago losses to post a profit for the first quarter.
On the downside
Sanmina-SCI (Nasdaq: SANM) fell to a loss for the second quarter as revenue dropped and the company forecast third quarter results below estimates.
RadioShack (NYSE: RSH) disappointed with an unexpected loss for the first quarter as revenue fell.
Plans by California to overhaul its prisons to save billions of dollars by closing one prison and returning 9,500 prison inmates in out of state facilities back to California weighed down shares of private correctional facilities operator Corrections Corporation of America (NYSE: CXW).
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 797.
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