Mid-Day Report
The markets traded mixed during the midday despite retreating oil prices as consumer confidence rises less than expected. The Dow gained 16 points to 11,632 while Nasdaq lost 3 points to 2450.
On the upside
SunPower (Nasdaq: SPWR) inked a deal with Pacific Gas & Electric (NYSE: PCG) to create a power supply on the scale of a traditional power plant using photovoltaic cells to produce energy.
Autodesk (Nasdaq: ADSK) reported second quarter earnings that topped estimates as revenue rose. The design software and service company forecast full year results above expectations prompting an analyst upgrade.
Cypress Semiconductor (NYSE: CY) offered to purchase nearly $600 million in outstanding convertible senior notes.
On the upside
SunPower (Nasdaq: SPWR) inked a deal with Pacific Gas & Electric (NYSE: PCG) to create a power supply on the scale of a traditional power plant using photovoltaic cells to produce energy.
Autodesk (Nasdaq: ADSK) reported second quarter earnings that topped estimates as revenue rose. The design software and service company forecast full year results above expectations prompting an analyst upgrade.
Cypress Semiconductor (NYSE: CY) offered to purchase nearly $600 million in outstanding convertible senior notes.
On the downside
Discrete semiconductor products maker Vishay Intertechnology (NYSE: VSH) made an unsolicited $1.6 billion bid to purchase power management technology company International Rectifier (NYSE: IRF).
Uranium producer Cameco (NYSE: CCJ) disppointed with lower second quarter earnings as revenue dropped.
Shares of potash producer Mosaic (NYSE: MOS) tumbled as investors locked in profits.
In the broad market, declining issues barely outpaced advancers by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 753.
