Earnings Lift Markets Modestly Higher At Midday

January 11, 2011 10:12 AM |

The markets traded modestly higher during the midday with the Dow gaining 12 points to 11,650 as earnings season began. Nasdaq added a point to 2708.

On the upside

Deutsche Bank upgraded Coeur d'Alene Mines (NYSE: CDE) to a Buy rating.

Deutsche Bank initiated coverage of Patriot Coal (NYSE: PCX) with a Buy rating.

Stryker (NYSE: SYK) reported higher fourth quarter revenue that beat analyst expectations and forecast full year results ahead of estimates.

On the downside

Cheesecake Factory (Nasdaq: CAKE) reported preliminary fourth quarter revenue that fell short of analyst expectations.

ClickSoftware Technologies (Nasdaq: CKSW) warned that fourth quarter results will fall short of estimates.

Constar International (Nasdaq: CNST) will restructure the company in order to improve its balance sheet.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 795.




Tags:

Search


About this Entry

This page contains a single entry by published on January 11, 2011 10:12 AM.

Higher Open Even As Wholesale Inventories Slip was the previous entry in this blog.

Upbeat Earnings Lift Markets To Higher Close is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12