Fed Mulls Assistance Options, Markets Open Mixed
The markets opened mixed with the Dow fallling 79 points to 11,015 while Nasdaq rose 9 points to 2444 as the Federal Reserve explores economic assistance options.
On the upside
Bloomberg reported that TPG and Kohlberg Kravis Robert offered to take Seagate Technology (Nasdaq: STX) private in a deal valued at approximately $7.55 billion.
Google (Nasdaq: GOOG) reported sharply higher third quarter earnings that beat analyst expectations as revenue surged.
An analyst suggested that Western Digital (NYSE: WDC) may go private.
On the downside
Mattel (Nasdaq: MAT) reported higher third quarter earnings but revenue fell short of analyst estimates.
General Electric (NYSE: GE) disappointed with lower third quarter earnings as revenue fell.
Third quarter earnings rose for Gannett (NYSE: GCI) but revenue missed expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 706.
