Crude Oil And Homebuilder Sentiment Fall, Markets Close Mixed

March 15, 2010 1:31 PM |
It was a mixed close for the markets with the Dow adding 17 points to 10,642 as falling crude oil prices took the sting out of a drop in homebuilder sentiment. Nasdaq slipped 5 points to 2362.

 

On the upside

Angiotech Pharmaceuticals (Nasdaq: ANPI) announced positive results from a clinical trial by its partner Boston Scientific (NYSE: BSX) for the platimun chromium TAXUS(R) Element(TM) Paclitaxel-Eluting Stent System.

Citigroup analyst Deborah Weinswig upgraded Wal-Mart (NYSE: WMT) to a Buy rating and lifted her price target on the retailer.

General Electric (NYSE: GE) will sell its energy business GE Energy to Babcock & Wilcox Power Generation Group.

On the downside

Gray Television (NYSE: GTN) warned that it may breach its financial covenants at the end of the month.

Thor Industries (NYSE: THO) announced the appointment of J. Allen Kosowsky to the Boad of Directors.

Fourth quarter earnings for Sterling Construction (Nasdaq: STRL) tumbled to fall far short of estimates.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 674.

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