Markets Mixed As Wholesale Prices Rise
The markets traded mixed during the midday with the Dow slipping 22 points to 11,733 as rising food and energy costs lifted wholesale prices in December. Nasdaq added a point to 2738.
On the upside
Biodel (Nasdaq: BIOD) presented a corporate update including developments of its rapid acting insulin product Linjeta at the J. P. Morgan Healthcare Conference this morning.
Fourth quarter revenue for SAP (NYSE: SAP) surged to surpass analyst expectations.
First quarter earnings and revenue surged for EXFO (Nasdaq: EXFO) to beat estimates.
On the downside
An analyst said that Tenaris (NYSE: TS) trimmed its fourth quarter outlook.
BioCryst Pharmaceuticals (Nasdaq: BCRX) requested changes to a late stage clinical trial of its influenza treatment peramivir.
Infosys Technologies (Nasdaq: INFY) reported higher third quarter earnings but warned of slowing growth as the economic recovery slows.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 802.
