Mixed Open Ahead Of Pending Home Sales Report

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The markets opened mixed with the Dow adding 6 points to 10,192 while Nasdaq slipped 4 points to 2167. Investors embraced upbeat corporate earnings and await the December pending home sales report.

 

On the upside

Comsys IT Partners (Nasdaq: CITP) will be acquired by Manpower (NYSE: MAN) in a deal valued at approximately $431 million.

Compugen (Nasdaq: CGEN) discovered a treatment for autoimmune disorders, CGEN-15001.

Fourth quarter earnings more than tripled for Lexmark International (NYSE: LXK) to beat expectations by a wide margin as the printing and imaging solutions company cut costs.

On the downside

Dow Chemical (NYSE: DOW) swung to a better than expected profit but investors were disappointed with weak sales in the United States and Europe.

While Suncor (NYSE: SU) reversed year ago losses to post a fourth quarter profit, the results fell far short of expectations.

First BanCorp (NYSE: FBP) swung to a fourth quarter loss as loan loss provisions surged.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 609.

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This page contains a single entry by published on February 2, 2010 6:46 AM.

Strong Manufacturing Activity Lifts Markets To Higher Close was the previous entry in this blog.

Rise In Pending Home Sales Lifts Markets is the next entry in this blog.

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