Mixed Close Over Recovery Hopes

October 12, 2009 1:38 PM |
The markets closed mixed even as investors remained optimistic about the economic recovery with the Dow rising 20 points to 9885. Nasdaq eased a fraction to 2139.

On the upside 

Blackstone Group (NYSE: BX) announced plans to take eight companies public.

Ford (NYSE: F) increased its market share in Europe to more than 10% in September.

Stifel Nicolaus initiated coverage of Forest Oil (Nasdaq: FST) with a Buy rating.

On the downside

Shares of Avanir Pharmaceuticals (Nasdaq: AVNR) continued to fall after reporting mixed results for its multiple sclerosis treatment Zenvia.

Shares of Las Vegas Sands (NYSE: LVS) and MGM Mirage (NYSE: MGM) fell after Macau said that it may impose age limits and cap the number of tables in the gambling mecca of China.

A CNBC.com article suggesting that video games are priced too high sent shares of Activision Blizzard (Nasdaq: ATVI) tumbling.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost a point to 613.

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This page contains a single entry by published on October 12, 2009 1:38 PM.

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