Mixed Markets At Midday

October 22, 2009 9:50 AM |
The markets traded mixed during the midday with the Dow climbing 75 points to 10,024 after the Conference Board reported that its index of leading economic indicators rose more than expected. Nasdaq slipped 3 points to 2146.

On the upside

Switch & Data Facilities (Nasdaq: SDXC) will be acquired by Equinix (Nasdaq: EQIX) in a cash and stock deal valued at approximately $698 million.

F5 Networks (Nasdaq: FFIV) impressed with higher fourth quarter earnings that topped estimates prompting upgrades.

Korea National Oil Corp. will pay approximately $3.9 million for Harvest Energy Trust (NYSE: HTE). Analysts promptly upgraded Harvest Energy.

On the downside

Westell Technologies (Nasdaq: WSTL) reversed year ago losses to post a profit for the second quarter but the company warned of softness for the rest of the year.

Affymetrix (Nasdaq: AFFX) narrowed losses for the third quarter but the results fell short of estimates.

NCR (NYSE: NCR) disappointed with lower than expected third quarter earnings, cut its guidance for the year and announced job cuts.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 604.

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This page contains a single entry by published on October 22, 2009 9:50 AM.

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