Mixed Open Ahead Of Rate Decision

January 27, 2010 6:52 AM |
The markets opened mixed with the Dow falling 30 points to 10,163 while Nasdaq edged up a fraction to 2204 as investors await the Federal Reserve's decision on interest rates. 

 

On the upside

Sanmina-SCI (Nasdaq: SANM) reversed year ago losses to post a first quarter profit due to a large legal settlement and higher revenue.

Improving demand lifted fourth quarter earnings for Altera (Nasdaq: ALTR) to surpass analyst expectations.

McClatchy (NYSE: MNI) swung to a fourth quarter profit and negotiated an extension for its debt.

On the downside

GenVec (Nasdaq: GNVC) will offer common shares and warrants to raise approximately $28 million.

Hercules Offshore (Nasdaq: HERO) warned of losses for the fourth quarter.

Fourth quarter earnings for Caterpillar (NYSE: CAT) plunged as revenue tumbled.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 613.

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This page contains a single entry by published on January 27, 2010 6:52 AM.

Flat Close Despite Improving Consumer Confidence was the previous entry in this blog.

New Home Sales Drop Unexpectedly, Markets Fall is the next entry in this blog.

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