Mid-Day Report
The markets traded mixed during the midday despite an upbeat jobs report as oil prices rebounded. The Dow gained 54 points to 11,452 while Nasdaq lost 7 points to 2313.
On the upside
Although RF Micro Devices (Nasdaq: RFMD) swung to a loss for the first quarter due to significant restructuring charges, revenue rose to beat expectations.
While American Commercial Lines (Nasdaq: ACLI) blamed increased expenses for lower second quarter earnings, the marine transportation and service company reported higher revenue.
Avon (NYSE: AVP) reported sharply higher second quarter earnings that more than doubled to beat expectations due to strong international sales.
Second quarter earnings plunged for CB Richard Ellis Group (NYSE: CBG) to miss expectations by a wide margin.
Despite higher revenue, Ultimate Software (Nasdaq: ULTI) swung to a loss for the second quarter due to a one-time settlement fee.
On the upside
Although RF Micro Devices (Nasdaq: RFMD) swung to a loss for the first quarter due to significant restructuring charges, revenue rose to beat expectations.
While American Commercial Lines (Nasdaq: ACLI) blamed increased expenses for lower second quarter earnings, the marine transportation and service company reported higher revenue.
Avon (NYSE: AVP) reported sharply higher second quarter earnings that more than doubled to beat expectations due to strong international sales.
On the downside
Silicon Motion Technology (Nasdaq: SIMO) reported sharply lower second quarter earnings that fell far short of expectations prompting the chip maker to slash its full year guidance.Second quarter earnings plunged for CB Richard Ellis Group (NYSE: CBG) to miss expectations by a wide margin.
Despite higher revenue, Ultimate Software (Nasdaq: ULTI) swung to a loss for the second quarter due to a one-time settlement fee.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 717.
