Same Store Sales Drop For Wal-Mart, Markets Slip

November 12, 2009 9:56 AM |
The markets slipped during the midday with the Dow falling 47 points to 10,244 after Wal-Mart reported a drop in same store sales. Nasdaq lost 5 points to 2161.

On the upside

Netlist (Nasdaq: NLST) launched its HyperCloud 16GB, 2 virtual rank memory module for servers.

Churchill Downs (Nasdaq: CHDN) will pay approximately $126.4 million in cash and stock to acquire Youbet.com (Nasdaq: UBET).

China Automotive Systems (Nasdaq: CAAS) impressed with record earnings and revenue for the third quarter.

On the downside

Arigene requested that Trimeris (Nasdaq: TRMS) extend its tender offer in order for Arigene to secure sufficient funds to complete its acquistion of Trimeris.

Boise (NYSE: BZ) will commence a secondary offering of 17 million common shares.

Goldman Sachs cited limited earnings growth for initiating coverage of teen apparel retailer Buckle (NYSE: BKE) with a Sell rating.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 586.

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