Consumer Confidence Drops

October 27, 2009 10:38 AM |
A surprising drop in consumer confidence tempered a report that housing prices rose month over month. The Dow rose 31 points to 9899 while Nasdaq tumbled 23 points to 2117.

On the upside

China Technology Development Group (Nasdaq: CTDC) will acquire a majority interest in solar power plant developer CTSPHL Group.

Although Insulet (Nasdaq: PODD) widened third quarter losses due to an interest charge, the company lifted its outlook for the year.

Patriot Coal (NYSE: PCX) reported higher third quarter revenue and said that demand surged sequentially from the second quarter to the third quarter.

On the downside

Three analysts cited PrivateBancorp's (Nasdaq: PVTB) loss for the third quarter for lowering their price target for the company.

Third quarter earnings surged for Baidu (Nasdaq: BIDU), but the Chinese search engine warned that revenue may drop due to its transition to a new online advertising system.

Carter (NYSE: CRI) delayed the release of its third quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 590.

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This page contains a single entry by published on October 27, 2009 10:38 AM.

Stocks Open Higher on Positive Housing Data was the previous entry in this blog.

Markets Mixed As Confidence Tumbles is the next entry in this blog.

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