Flat Personal Income Weighs Down Dow

August 28, 2009 1:48 PM |
Disappointingly flat personal income along with a drop in consumer confidence sent the Dow down to a lower close with the blue chip index losing 36 points to 9544. Nasdaq added a point to 2028.

On the upside 

Select Comfort (Nasdaq: SCSS) shareholders rejected a deal that would have given Sterling Partners a controlling interest in the company.

Hovnanian Enterprises (NYSE: HOV) will release third quarter earnings after market close on Wednesday, September 2.

Finland's largest utility Fortum selected Telvent (Nasdaq: TLVT) to develop an advanced metering infrastructure project using Echelon's (Nasdaq: ELON) Networked Energy Services system.

Trubion Pharmaceuticals (Nasdaq: TRBN) will receive up to $196.5 million from Facet Biotech for the marketing rights to its experimental leukemia drug TRU-016.

Intel (NYSE: INTC) lifted its outlook for the third quarter due to strong demand.

On the downside

The9 Limited (Nasdaq: NCTY) swung to a loss as revenue fell.

In the broad market, advancing issues edged out decliners by a margin of nearly 10 to 9 on the NYSE and while decliners outpaced advancers by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 579.

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This page contains a single entry by published on August 28, 2009 1:48 PM.

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