Modestly Higher Close As Economy Shrinks Less Than Expected

August 27, 2009 1:34 PM |
The markets advanced to close modestly higher with the Dow gaining 37 points to 9580 as the nation's economy shrank at a slower than expected pace in the second quarter. Nasdaq added 3 points to 2027.

On the upside 

Seagate (Nasdaq: STX) chairman and chief executive Stephen J. Luczo purchased more than $1.2 million worth of company stock.

The Department of Energy awarded $34 million in stimulus grants to customers and government agency partners of Clean Energy Fuels (Nasdaq: CLNE).

The Teacher Retirement System of Texas selected Genworth Financial (NYSE: GNW) to provide long term care insurance to its membership.

On the downside

FX Energy (Nasdaq: FXEN) halted all drilling operations at its Ostrowiec-1 wildcat well and will plug and abandon the well.

Magma Design Automation (Nasdaq: LAVA) reported a loss for the first quarter.

Gravity (Nasdaq: GRVY) reported higher second quarter earnings and revenue but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 583.

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This page contains a single entry by published on August 27, 2009 1:34 PM.

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