Jobless Claims Drop To Two-Month Low, Markets Close Higher
Jobless claims dropped to a two-month low to lift the markets to a modestly higher close with the Dow rising 28 points to 10,415 while Nasdaq added 7 points to 2236.
On the upside
Community Health Systems (NYSE: CYH) submitted a proposal to manage Beaufort Regional Health System.
Credit Suisses upgraded Skilled Healthcare Group (NYSE: SKH).
Men's Wearhouse (NYSE: MW) reported higher second quarter earnings that topped analyst expectations and forecast third quarter results ahead of estimates.
On the downside
Susquehanna Financial Group downgraded Skechers USA (Nasdaq: SKX) to a Neutral rating.
United Air Lines (Nasdaq: UAUA) reported higher passenger revenue miles for August but the results missed estimates and analysts warned that the slowing economy may negatively impact future revenue.
Emmis Communications (Nasdaq: EMMS) founder and chief executive Jeffrey Smulyan withdrew his $2.40 per share offer to acquire the company.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 634.
