Mixed Close As Chrysler Files For Bankruptcy

It was a mixed close for the markets with the Dow losing 17 points to 8168 as Chrysler filed for Chapter 11 bankruptcy protection.  Nasdaq added 5 points to 1717.

On the upside

Expedia (Nasdaq: EXPE) reported lower first quarter earnings due to restructuring charges and lower revenue but the results beat expectations.

First quarter earnings for First Solar (Nasdaq: FSLR) more than tripled as the company cut production costs and signed new projects.

Human Genome Sciences (NYSE: HGSI) reversed year ago losses to post a profit for the first quarter due to sales of its anthrax treatment.

On the downside

Eastman Kodak (NYSE: EK) widened first quarter losses as sales plunged.  The company suspended its quarterly dividend and lowered the salaries of senior executives,

First quarter earnings for Safeway (NYSE: SWY) fell to miss estimates as consumers spent less.

Assurant (NYSE: AIZ) disappointed with lower first quarter earnings due to the challenging economic environment.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE while advancers were on par with decliners on Nasdaq.  The Russell 2000 which tracks small cap stocks lost 3 points to 487.