Markets Down As New Home Sales Rise Less Than Expected

September 25, 2009 10:49 AM |
A disappointingly modest increase in new home sale sent the markets lower during the midday with the Dow falling 39 points to 9668. Nasdaq dropped 16 points to 2091.

On the upside 

J. P. Morgan initiated coverage of Biovail (NYSE: BVF) with an Overweight rating.

Compton Petroleum (NYSE: CMZ) announced a delay to the closing of its public offering.

Stifel, Nicolaus & Co. analyst Chris Brendler ugraded AmeriCredit (NYSE: ACF) citing improving market conditions.

On the downside

United Community Banks (Nasdaq: UCBI) priced its offering of 38.7 million shares at $5 per share.

Superior Well Services (Nasdaq: SWSI) amended the terms of its credit agreement to reduce its borrowing capacity.

KB Home (NYSE: KBH) reported a wider than expected loss for the third quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 596.

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This page contains a single entry by published on September 25, 2009 10:49 AM.

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