Mixed Markets Over Job Replacement Concerns

January 7, 2010 10:25 AM |
The markets traded mixed during the midday with the Dow adding 8 points to 10,582 as a drop in mortgage rates tempered concerns that the nation will have difficulty replacing the 7 million jobs lost over the past two years. Nasdaq dropped 12 points to 2288.

 

On the upside

Zix (Nasdaq: ZIXI) offered an upbeat preliminary fourth quarter update and announced that it expects 2010 to be its first profitable year.

Cyclacel Pharmaceuticals (Nasdaq: CYCC) reported that its lung cancer treatment seliciclib killed lung cancer cells.

Somaxon Pharmaceuticals (Nasdaq: SOMX) reassured investors that it will continue working with the Food and Drug Administration in seeking approval of its insomnia medication Silenor.

On the downside

ZymoGenetics (Nasdaq: ZGEN) increased its public offering to 14 million common shares at $6 per share.

J.C. Penney (NYSE: JCP) reported a drop in December same store sales.

Analysts downgraded Hot Topic (Nasdaq: HOTT) after the teen apparel retailer reported lower December same store sales and cut its fourth quarter guidance.

In the broad market, declining issues barely edged out advancers by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 637.

Tags:

Search


About this Entry

This page contains a single entry by published on January 7, 2010 10:25 AM.

Markets Open Lower As Jobless Claims Rise was the previous entry in this blog.

Markets Close Mixed As Mortgage Rates Slip While Jobless Claims Rise is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12