Mixed Open As Home Prices Drop

January 26, 2010 6:46 AM | | TrackBacks (0)
A drop in November home prices weighed down investor sentiment leading to a mixed open with the Dow adding 11 points to 10,208 while Nasdaq lost 6 points to 2204. 

 

On the upside

Citi Investment Research upgraded Amylin Pharmaceuticals (Nasdaq: AMLN) in anticipation of regulatory approval for its once-weekly injectable diabetes treatment exenatide LAR.

Zions Bancorp (Nasdaq: ZION) narrowed fourth quarter losses due to significantly lower impairment charges.

Tellabs (Nasdaq: TLAB) reported sharply higher fourth quarter earnings that topped estimates.

On the downside

Weatherford International (NYSE: WFT) swung to a loss due to lower revenue and one time charges.

United States Steel (NYSE: X) disappointed with its fourth quarterly loss in a row as revenue plunged. The steel company warned of losses for the current quarter as well.

Oppenheimer analyst Carl McDonald downgraded Cigna (NYSE: CI) saying that the insurer's Medicare Advantage prices are significantly underpriced.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by a margin of 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 614.

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This page contains a single entry by published on January 26, 2010 6:46 AM.

Rise In Existing Home Sales Lifts Markets To Higher Close was the previous entry in this blog.

Consumer Confidence Rises Lifting Markets is the next entry in this blog.

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