Consumer Borrowing Drops, Markets Mixed

October 7, 2009 1:25 PM |
It was a mixed close for the markets with the Dow slipping 5 points to 9725 as consumers cut their borrowing for the seventh month in a row and investors brace for earnings reports. Nasdaq gained 6 points to 2110.

On the upside 

Shares of Verisk (Nasdaq: VRSK) surged on its first day of trading.

Avanir Pharmaceuticals (Nasdaq: AVNR) will receive a new patent for its neurological disorder medication Zenvia.

Friedman, Billings, Ramsey analyst Adrienne Tennant lifted her price target for Talbots (NYSE: TLB) citing efforts by the company to improve operations.

On the downside

Standard Pacific (NYSE: SPF) will release third quarter earnings after market close on Thursday October 29, 2009.

Allos Therapeutics (Nasdaq: ALTH) increased the size of its offering to 14 million shares.

Sprint (NYSE: S) settled five shareholder lawsuits opposing the company's plan to purhase of Virgin Mobile USA.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 602.

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