Stocks Open Higher on Positive Housing Data

October 27, 2009 6:50 AM |
Home prices rose in 20 major markets for the 3rd consecutive month in another sign of a possible economic recovery.  The Dow gained 43 points to 9911 while Nasdaq added 2 points to 2144.

On the upside

BP Plc (NYSE: BP) posted lower 3rd quarter profits as gas prices fell.  Nonetheless, the results beat expectations.

Share of medical device maker ev3 (Nasdaq: EVVV) posted profits that topped estimates and raised its full-year outlook.

Cabot Oil & Gas (NYSE: COG) posted a drop in 3rd quarter profits.  Analysts upgraded the stock.

On the downside

United States Steel  (NYSE: X) posted sharply lower revenues and another quarterly loss while issuing a cautious outlook.

Investors worried that Las Vegas Sands (NYSE: LVS) may not be able to raise money to complete two suspended casino projects in Macau.

Scientific Games (Nasdaq: SGMS) posted lower revenues and modest profits.  Investors remained worried about the outlook for the gaming industry.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 4 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 596.

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This page contains a single entry by published on October 27, 2009 6:50 AM.

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