Gain In Durable Goods Orders Lifts Markets
August 24, 2012 at 02:49 AM EDT
A gain in durable goods orders lifted the markets to a higher open with the Dow rising 27 points to 13,084. Nasdaq gained 6 points to 3060.On the upsideAruba Networks (Nasdaq: ARUN) slipped to a loss for the fourth quarter but revenue climbed and the results topped analyst estimates. Shares of Rosetta Genomics (Nasdaq: ROSG) continued climbing after Aegis initiated coverage of the stock yesterday with a Buy rating.Eli Lilly (NYSE: LLY) reported encouraging results from late stage trials of its Alzheimer’s disease treatment solanezumab.On the downsideAutodesk (Nasdaq: ADSK) reported lower second quarter earnings that missed analysts estimates and forecast current quarter results below expectations. General Growth’s (NYSE: GGP) largest shareholder Brookfield Asset Management (NYSE: BAM) will not acquire the real estate investment trust.Investors locked in profits on Nokia (NYSE: NOK) whose stock price surged in anticipation of its release of new Windows 8 phones next month.In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 804.
