Lingering Concerns About Greece Weigh Down Markets
The markets recovered from earlier losses after a sharp gain in existing home sales but continued trading in negative territory with the Dow losing 29 points to 11,095 as Greek debt concerns lingered. Nasdaq eased a point to 2503.
On the upside
Comstock Homebuilding (Nasdaq: CHCI) regained compliance with Nasdaq listing requirements.
While Textron (NYSE: TXT) swung to a first quarter loss, the results were better than expected.
TCF Financial (NYSE: TCB) reported higher first quarter earnings.
On the downside
Affymetrix (Nasdaq: AFFX) narrowed first quarter losses but the company forecast second quarter sales below expectations.
Baxter International (NYSE: BAX) blamed disappointing sales of plasma-based therapies for cutting its 2010 profit guidance.
First quarter earnings for ABB (NYSE: ABB) dropped to fall short of expectations as revenue fell.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 726.
On the upside
Comstock Homebuilding (Nasdaq: CHCI) regained compliance with Nasdaq listing requirements.
While Textron (NYSE: TXT) swung to a first quarter loss, the results were better than expected.
TCF Financial (NYSE: TCB) reported higher first quarter earnings.
On the downside
Affymetrix (Nasdaq: AFFX) narrowed first quarter losses but the company forecast second quarter sales below expectations.
Baxter International (NYSE: BAX) blamed disappointing sales of plasma-based therapies for cutting its 2010 profit guidance.
First quarter earnings for ABB (NYSE: ABB) dropped to fall short of expectations as revenue fell.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 726.
