Markets Mixed As Confidence Tumbles

October 27, 2009 1:33 PM |
The markets closed mixed with the Dow gaining 14 points to 9882 despite an unexpected drop in consumer confidence as home prices rose sequentially. Nasdaq dropped 25 points to 2116.

On the upside

Third quarter earnings for Crane (NYSE: CR) surpassed analyst estimates by a wide margin.

Celanese (NYSE: CE) reported third quarter earnings that doubled due to a one-time tax benefit.

While third quarter earnings for Textron (NYSE: TXT) plunged, the results topped estimates.

On the downside

Boyd Gaming (NYSE: BYD) reported a drop in third quarter earnings due to the economic slump.

Shares of PMI Group (NYSE: PMI) fell after Standard & Poor's said that it may downgrade the mortgage insurer.

Owens & Minor (NYSE: OMI) disappointed with third quarter results that fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 586.

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This page contains a single entry by published on October 27, 2009 1:33 PM.

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