Markets Close Flat As Manufacturing Rises
It was a flat close for the markets with the Dow adding 3 points to 10,548 as manufacturing activity rose in the Midwest. Nasdaq rose 2 points to 2291.
On the upside
Keryx Biopharmaceuticals (Nasdaq: KERX) was named as one of three PowerRatings Stocks by TradingMarkets.com.
Thornburg Global Opportunities Fund co-manager Brian McMahon cited the need for businesses to upgrade their computers, which has been delayed due to the recession, for selecting Dell (NYSE: DELL) as a top stock pick.
Kaufman Bros. upgraded Nvidia (Nasdaq: NVDA) saying that demand for personal computers will increase.
On the downside
China BAK Battery (Nasdaq: CBAK) dispelled rumors that Google (Nasdaq: GOOG) had selected the company to provide lithium polymer batteries for the Nexus One.
Aetna (NYSE: AET) must take a fourth quarter charge of nearly $65 million for costs related to job cuts and real estate.
Shares of AT&T (NYSE: T) fell after guidelines to break the GSM encryption of cell phones were posted online.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 633.
