Mixed Close For Markets As Oil Rises
It was a mixed close for the markets with the Dow gaining 50 points to 8469 as oil prices rose. Nasdaq dropped 15 points to 1715.
Although first quarter earnings fell for Callon Petroleum (NYSE: CPE), the results were better than expected.
Stifel Nicolaus initiated coverage of PetroQuest Energy (NYSE: PQ) with a Buy rating.
Great Atlantic & Pacific Tea (NYSE: GAP) widened fourth quarter losses prompting a downgrade.
Shares of auto parts suppler American Axle (NYSE: AXL) plunged over concerns that General Motors (NYSE: GM) may file for bankruptcy.
In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 495.
On the upside
Third quarter earnings for Winn-Dixie (Nasdaq: WINN) rose to top estimates prompting the grocery store operator to lift its full year outlook.Although first quarter earnings fell for Callon Petroleum (NYSE: CPE), the results were better than expected.
Stifel Nicolaus initiated coverage of PetroQuest Energy (NYSE: PQ) with a Buy rating.
On the downside
Great Atlantic & Pacific Tea (NYSE: GAP) widened fourth quarter losses prompting a downgrade.
Shares of auto parts suppler American Axle (NYSE: AXL) plunged over concerns that General Motors (NYSE: GM) may file for bankruptcy.
In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 495.
