Surge In Wholesale Inventories Lifts Markets To Higher Close
A sharp surge in wholesale inventories lifted the markets to a higher close with the Dow rising 47 points to 10,462. Nasdaq gained 6 points to 2242.
On the upside
Piper Jaffray upgraded Moody's (NYSE: MCO) to an Outperform rating.
L-1 Identity Solutions (NYSE: ID) is finalizing a deal to sell its biometric and credential divisions to French firm Safran.
RPC (NYSE: RES) will present at the 2010 CEO Energy-Power Conference on September 15 in New York.
On the downside
Capstead Mortgage (NYSE: CMO) slashed its quarterly dividend from 36 cents to 26 cents per share payable on October 20 to shareholders of record September 30.
TRW Automotive Holdings (NYSE: TRW) announced a secondary offering of 7.5 million common shares.
The Federal Aviation Administration proposed new regulations increasing minimum rest periods for airline pilots sending shares of US Airways (NYSE: LCC) lower.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 636.
