Markets Mixed At Midday
Posted on May 11, 2012 at 15:42 PM EDT
The markets traded mixed during the midday with the Dow losing 16 points to 12,838 as investors weighed J. P. Morgan's $2 billion loss against rising consumer sentiment. Nasdaq rose 10 points to 2944.
On the upside
Dillard's (NYSE: DDS) reported higher first quarter earnings that beat analyst expectations as revenue climbed.
Shares of Ignite Restaurant (Nasdaq: IRG) soared in its market debut.
Keryx Biopharmaceuticals (Nasdaq: KERX) will present at the 11th Annual JMP Securities Research Conference next Tuesday, May 15.
On the downside
The Food and Drug Administration is inspecting Alere's (NYSE: ALR) San Diego facility that makes the Alere Triage products.
Career Education (Nasdaq: CECO) reported sharply lower first quarter earnings as new student enrollment dropped.
A123 Systems (Nasdaq: AONE) warned that it will report a loss of $125 million for the first quarter due to a battery recall.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 791.
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