Markets Open Lower Over Mixed Earnings
The markets opened lower with the Dow falling 57 points to 11,386 over mixed earnings. Nasdaq edged up a fraction to 2579.
On the upside
GT Solar International (Nasdaq: SOLR) will repurchase up to 26.5 million common shares.
MGM Resorts' (NYSE: MGM) Bellagio introduced a monthly "Art & Wine: A Perfect Pairing" with the first event on Wednesday, November 10.
Third quarter earnings for China MediaExpress Holdings (Nasdaq: CCME) more than doubled as revenue surged.
On the downside
SIGA Technologies (Nasdaq: SIGA) will appeal a finding by the Small Business Administration that the company does not qualify as a small business and therefore ineligilbe for the smallpox antiviral contract awarded by the Health and Human Services Department.
Warner Chilcott (Nasdaq: WCRX) disappointed with sharply lower third quarter earnings due to the return of several licensing rights to Leo Pharma products.
Radian Group (NYSE: RDN) will offer up to $350 million in convertible senior notes.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 736.
