Mixed Close Over Uneven Earnings

July 22, 2009 1:58 PM |
It was a mixed close for the markets with the Dow falling 34 points to 8881 while Nasdaq climbed 10 points to 1926 over uneven earnings news.

On the upside

ClickSoftware Technologies (Nasdaq: CKSW) reported higher second quarter earnings that topped estimates.

Bankrate (Nasdaq: RATE) will be taken private by Apax Partners in a deal valued at approximately $571 million.

Media General (NYSE: MEG) reversed year ago losses to post a profit in the second quarter despite sharply lower ad revenue.

On the downside

While United Airlines parent UAL (Nasdaq: UAUA) swung to a second quarter profit, the airliner warned that international capacity will be cut.

Although second quarter earnings for St. Jude (Nasdaq: STJ) rose, revenue dropped to fall short of estimates as sales of implantable cardioverter defibrillators slipped.

Whirlpool (NYSE: WHR) reported sharply lower second quarter earnings as revenue tumbled amidst falling consumer demand.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 528.

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