Consumer Sentiment Rises Less Than Expected, Markets Down

Although consumer sentiment rose in June, the gain was below analyst estimates sending the markets lower during the midday with the Dow slipping 12 points to 8758. Nasdaq dropped 23 points to 1839.

On the upside

Vulcan Materials (NYSE: VMC) will offer 11.5 million common shares at $41.00 per share.

Synovus Financial (NYSE: SNV) declared a quarterly dividend of a penny per share payable on July 1, 2009 to shareholders of record June 18, 2009.

According to a Wall Street Journal article on Wednesday, E-Trade (NYSE: ETFC) is in discussions with shareholder Citadel Investment to improve its financial position.

On the downside

National Semiconductor (NYSE: NSM) swung to a loss for the fourth quarter as revenue plunged.

Although Hoku Scientific (Nasdaq: HOKU) narrowed fourth quarter losses, the company warned that it may not be able to fund operations over the next twelve months.

Ameriprise (NYSE: AMP) will offer 36 million common shares at $25 per share.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 520.