Mixed Close As Commodity Prices Rise
The markets closed mixed with the Dow losing 26 points to 12,479 as concerns that rising commodity prices will negatively impact corporate earnings tempered news that sales of new homes climbed more than expected. Nasdaq rose 5 points to 2825.
On the upside
Insider Monkey reported that a Central European Distribution (Nasdaq: CEDC) insider purchased 10,000 shares of company stock this month.
Ramtron International (Nasdaq: RMTR) swung to a first quarter loss as revenue slipped but the stock price rose.
Flagstar Bancorp (NYSE: FBC) introduced the latest version of its paperless mortgage processing system DocVelocity 3.0 with an interactive feature for multiple users.
On the downside
A Wall Street Journal article on Friday questioned the stock price of Swisher Hygiene (Nasdaq: SWSH).
C. K. Cooper downgraded Toreador Resources (Nasdaq: TRGL) to a Hold rating.
Cymer (Nasdaq: CYMI) reported higher first quarter earnings but the stock price fell.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 842.
