Markets Flat As Oil Surges
The markets traded near the flatline as crude oil prices surged ahead of the holiday weekend. The Dow added 2 points to 8477 while Nasdaq edged up a point to 1736.
AmTech research upgraded JA Solar (Nasdaq: JASO).
Three different groups are expected to make offers on General Motors' (NYSE: GM) Opel unit in Germany.
On the upside
First quarter earnings for Paragon Shipping (Nasdaq: PRGN) rose to top analyst estimates.AmTech research upgraded JA Solar (Nasdaq: JASO).
Three different groups are expected to make offers on General Motors' (NYSE: GM) Opel unit in Germany.
On the downside
Several investors have agreed to purchase $11.1 million worth of common stock and warrants of Oncothyreon (Nasdaq: ONTY).
Needham & Co. downgraded Palm (Nasdaq: PALM) due to valuation concerns.
Hertz Global Holdings (NYSE: HTZ) will offer common stock and convertible notes in order to raise as much as $812 million.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by a margin of more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 3 points to 496.
