Smaller Than Expected Drop In Home Sales, Markets Open Up

March 23, 2010 6:47 AM |
A smaller than expected drop in existing home sales lifted the markets to a higher open with the Dow rising 27 points to 10,813. Nasdaq added 2 points to 2397.

 

On the upside

Lazard Capital Markets analyst Dr. Sean Lavin cited a potential Down syndrome test for upgrading Sequenom (Nasdaq: SQNM).

Shares of Royal Caribbean Cruises (NYSE: RCL) and Carnival (NYSE: CCL) rose after Alaska lowered its head tax from $50 per passenger to $34.50.

Arrowhead Research (Nasdaq: ARWR) announced that its subsidiary Calando Pharmaceuticals successfully demonstrated the "silencing" of a cancer gene through RNA interference.

On the downside

Oncothyreon (Nasdaq: ONTY) cited an adverse patient reaction for temporarily suspending a clinical trial for its cancer vaccine Stimuvax.

Maguire Properties (NYSE: MPG) blamed charges associated with defaulted properties for widening fourth quarter losses.

While KB Home (NYSE: KB) narrowed first quarter losses, the results fell short of estimates.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 682.

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This page contains a single entry by published on March 23, 2010 6:47 AM.

Increase In Insured Patients Lifts Markets To Higher Close was the previous entry in this blog.

Markets Advance Over Better Than Expected Home Sales is the next entry in this blog.

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