Stocks Edge Higher Ahead of Fed Interest Rate Decision

September 23, 2009 6:45 AM |
Investors were cautiously optimistic ahead of a Federal Reserve decision on interest rates.  The Dow added 5 points to 9835.  Nasdaq rose 5 points to 2151.

On the upside 

General Mills (NYSE: GIS) posted higher profits due to strong demand for its packaged foods and lower commodity prices.

Keryx Biopharmaceuticals (Nasdaq: KERX) posted positive results for its drug candidate to treat dialysis patients.

Ascent Solar Technologies (Nasdaq: ASTI) signed a multi-year agreement to supply solar modules.

On the downside

U.S. Airways (NYSE: LCC) and AMR Corporation (NYSE: AMR) issued new notes in order to raise capital.

Incyte Corporation (Nasdaq: INCY) offered stock and debt to raise money to develop drugs for the treatment of cancer and diabetes.

An analyst downgraded Tellabs (Nasdaq: TLAB), a maker of telecommunications networking equipment.

In the broad market, advancing issues outpaced decliners by a slim margin on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 620.

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This page contains a single entry by published on September 23, 2009 6:45 AM.

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