Markets Mixed As Oil Prices Fall


The markets traded mixed during the midday with the Dow losing 37 points 12,686 despite a surprise jump in jobless claims as crude oil prices fell. Nasdaq gained 9 points to 2837.

On the upside

Polypore International (NYSE: PPO) impressed with sharply higher first quarter earnings that surpassed analyst expectations by a wide margin.

Lee Enterprises chief executive Mary E. Junck (NYSE: LEE) purchased 100,000 shares of company stock.

Novellus Systems (Nasdaq: NVLS) priced its offering of $600 million in senior convertible notes to institutional investors.

On the downside

Savient Pharmaceuticals (Nasdaq: SVNT) widened first quarter losses. 

Timberland (NYSE: TBL) disappointed with lower first quarter earnings that fell far short of analyst expectations.

Investors locked in profits on Renren (NYSE: RENN), which climbed in its market debut yesterday.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 835.

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This page contains a single entry by published on May 5, 2011 10:13 AM.

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