Stocks closed narrowly mixed after hugging a skin-tight range
today as participants sit on the fence after last week's impressive
run, and before the release of Apple (
) earnings late Monday. The defensive tone was triggered early on
by disappointing earnings from Merck (
) but improved mid-morning as a string of upbeat earnings poured
in. The S&P 500 reached a new record high on strength in
consumer staples and the energy sector and has managed to hold onto
a slim gain, closing higher for the third consecutive day and the
eighth higher close in nine, while outperforming both the Dow
Industrial and Nasdaq.
Economic data on manufacturing and housing was mostly bearish.
Industrial production and capacity utilization both beat estimates
and improved from their month prior levels, but housing continued
to show deterioration due to higher mortgage rates and rising home
prices. This was followed by a dramatic drop in the Dallas Fed
index of manufacturing activity which plummeted 70% from the month
Dow Jones Industrial Index was down 1.4, or 0.008%, at
S&P 500 was up 2.3, or 0.1%, at 1,762
Nasdaq Composite Index down 3, or 0.1%, at 3,940
FTSE 100 was up 0.07%
Nikkei 225 was up 2.19%
Hang Seng Index was up 0.48%
Shanghai China Composite Index was up 0.91%
FIO Shares rallied after two of the flash-memory company's top
executives purchased nearly 160,000 shares of its stock late last
GOGO, Signed a contract with Japan Airlines to provide Gogo's
in-flight Internet service on JAL's domestic fleet of 77
FRM (+4.25%) Barron's article pointed out that Furmanite has
little net debt and rising sales and income and could rise as much
ASTI Announced an 85% decline in government R&D contract
revenue in Q3, even as the firm posted a 22% increase in
preliminary revenue to $275,000, compared with Q2.
DGLY Filed a lawsuit in the United States District Court for the
District of Kansas to eliminate threats by Utility Associates Inc.
of alleged patent infringement regarding U.S. Patent No. 6,831,556
(the '556 patent).
LVFN The company offered 16.3 million shares at $2.45 per
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