Investors On Sidelines, Markets Flat
The markets traded flat as investors await word of a bailout in Ireland and consider the effects China's new bank reserve requirements. The Dow lost 6 points to 11,175 while Nasdaq added 2 points to 2517.
On the upside
AnnTaylor (NYSE: ANN) reported sharply higher third quarter earnings that beat analyst expectations as revenue climbed .
Third quarter earnings for Marvell Technology (Nasdaq: MRVL) rose to top estimates.
FONAR (Nasdaq: FONR) reversed year ago losses to posta first quarter profit as revenue rose.
On the downside
Kirkland's (Nasdaq: KIRK) disappointed with a greater than expected drop in third quarter earnings.
Somaxon (Nasdaq: SOMX) priced its offering of 8.8 million common shares at the discounted price of $2.95 per share.
Fourth quarter earnings rose for Atwood Oceanics (NYSE: ATW) but the stock price fell.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 722.
