Mixed Open Even As Jobless Claims Drop
Disappointing earnings tempered news of a drop in initial applications for unemployment benefits. The market opened mixed with the Dow slipping 12 points to 11,445 while Nasdaq rose 4 points to 2621.
On the upside
Certain OCZ Technology Group (Nasdaq: OCZ) shareholders will sell their common stock to institutional and accredited investors.
China MediaExpress (Nasdaq: CCME) announced a new policy to pay a semi-annual dividend of 5% to 10% of the company's profit.
Aeropostale (NYSE: ARO) retained the services of Barclays Capital to provide strategic advice.
On the downside
After reviewing strategic alternatives, Regis (NYSE: RGS) decided not to sell itself.
The U. S. government filed a lawsuit against BP (NYSE: BP), Andarko Petroleum (NYSE: APC) and Transocean (NYSE: RIG) for violating environmental laws in the Deepwater Horizon oil spill.
Pier 1 Imports (NYSE: PIR) reported lower third quarter earnings despite higher revenue.
In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 770.
