Mixed Close Even As Fed Holds Interest Rates Steady

On the upside

A surge in new home construction lifted shares of Hovnanian Enterprises (NYSE: HOV) and Beazer Homes (NYSE: BZH).

Second quarter earnings for AAR (NYSE: AIR) rose to beat expectations as expenses slipped.

Shares of Mizuho Financial Group (NYSE: MFG) soared after the Basel Committee on Banking Supervision delayed the enforcement of stricter capital requirements.

On the downside

Gilead (Nasdaq: GILD) stock continued to fall after its high blood pressure medication failed a late stage clinical trial.

Fifth Third Bancorp (Nasdaq: FITB) originated and renewed fewer commercial and industrial loans in October compared with September.

Shares of CVS (NYSE: CVS) slipped after Walgreen (NYSE: WAG) announced that it will expand its swine flu vaccination program to 27 states and make the vaccine available to anyone within the age requirement.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 4 points to 611.