Markets Recover To Close Modestly Higher
The markets recovered in late afternoon trading to close modestly higher with the Dow rising 19 points to 10,060. Nasdaq gained 17 points to 2141.
On the upside
An article in Seeking Alpha recommended Applied Material (Nasdaq: AMAT).
Bloomberg reported that Apple (Nasdaq: AAPL) is negotiating with News Corp. (Nasdaq: NWSA) to offer television shows on iTunes for 99 cents per rental.
Pfizer (NYSE: PFE) and Bristol-Myers Squibb (NSYE: BMY) will present results from a late stage clinical trial of its blood thinner apixaban at the European Society of Cardiology Congress 2010.
On the downside
Dycom Industries (NYSE: DY) disappointed with lower fourth quarter earnings that fell short of expectations as expenses climbed.
EnergySolutions (NYSE: ES) declared a quarterly dividend of $0.025 per share payable on September 10 to shareholders of record September 3.
JMP Securities downgraded Annaly Capital (NYSE: NLY).
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 604.
