Markets Mixed Over Rising Unemployment
Rising unemployment dampened investor enthusiasm during the midday. The markets traed mixed with the Dow slipping 30 points to 7948 while Nasdaq added 5 points to 1607.
Melco Crown Entertainment (Nasdaq: MPEL) introduced its Quality of Life program that offers employees the option of a compressed workweek.
Charming Shoppes (Nasdaq: CHRS) named James Fogarty to the position of chief executive, replacing Dorrit J. Bern who resigned from the women's apparel retailer in July 2008.
On the downside
On the upside
Century Aluminum (Nasdaq: CENX) announced the termination of Senior Vice President of Business Development Giulio Casello effective April 30, 2009.Melco Crown Entertainment (Nasdaq: MPEL) introduced its Quality of Life program that offers employees the option of a compressed workweek.
Charming Shoppes (Nasdaq: CHRS) named James Fogarty to the position of chief executive, replacing Dorrit J. Bern who resigned from the women's apparel retailer in July 2008.
On the downside
Hutchinson Technology (Nasdaq: HTCH) reported sharply lower second quarter sales and announced that Seagate Technology will no longer purchase suspension assemblies from Hutchinson.
Roth Capital downgraded Alkermes (Nasdaq: ALK) over concerns that a diabetes medication in development may cause thyroid cancer.
AngloGold Ashanti (NYSE: AU) warned that its first quarter production is below guidance.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 449.
