Modestly Higher Close On Upbeat Earnings And Data

The markets closed modestly higher with the Dow gaining 47 points to 12,810 on upbeat earnings and economic data. Nasdaq added a point to 2873.

On the upside

Sonic (Nasdaq: SONC) reported an upward trend in sales for the third quarter.

Motorola Mobility (NYSE: MMI) narrowed first quarter losses more than expected as revenue soared.

Newpark Resources (NYSE: NR) reported higher first quarter earnings that topped analyst expectations as revenue climbed.

On the downside

Horizon Lines (NYSE: HRZ) widened first quarter losses more than expected. 

Pitney Bowes (NYSE: PBI) reported higher first quarter earnings but revenue slipped to fall short of analyst expectations.

Ingram Micro (NYSE: IM) disappointed with lower first quarter earnings that fell far short of expectations prompting downgrades.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 865.