Stocks Edge Higher as Home Prices Rise

September 29, 2009 6:50 AM |
The Standard & Poor's/Case-Shiller home price index of 20 major cities rose in July to beat expectations.  Investors were also awaiting the September reading of the consumer confidence index.  The Dow added 3 points to 9791 while Nasdaq held steady at 2130.

On the upside 

Drugstore operator Walgreen (NYSE: WAG) posted higher revenues and lower profits that beat forecast.  Shares of rival CVS Caremark (NYSE: CVS) also rose.

Gannett (NYSE: GCI) raised its outlook for the 3rd quarter due to cost controls.

An analyst initiated coverage of Diedrich Coffee (Nasdaq: DDRX) with a buy recommendation.

On the downside

Sequenom (Nasdaq: SQNM) fired its CEO and a group of executives as an investigation into the mishandling of results for its Down syndrome blood test unfolded.

Recon Technology (Nasdaq: RCON) posted higher revenues and earnings, but investors took profits on the China-based computer software and hardware company for the energy industry.

First Industrial Realty Trust (NYSE: FR) offered 12.5 million new shares and announced job cuts. 

In the broad market, advancing issues were even with decliners on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 613.

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This page contains a single entry by published on September 29, 2009 6:50 AM.

Markets Close Higher Over M&A Activity was the previous entry in this blog.

Disappointing Drop In Consumer Confidence Weighs Markets is the next entry in this blog.

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