Mixed Open As Durable Goods Orders Drop


The markets opened mixed with the Dow losling 14 points 12,341 while Nasdaq added a fraction to 2747 as durable goods orders dropped in April.

On the upside

Golden Gate Capital will pay approximately $470 million in cash to acquire California Pizza Kitchen (Nasdaq: CPKI).

Quantum Fuel (Nasdaq: QTWW) secured a contract to deliver more than 100 plug-in hybrid electric Ford F-150 pick-up trucks to The Dow Chemical Company (NYSE: DOW).

Martha Stewart Living Omnimedia (NYSE: MSO) retained the services of Blackstone Group to explore potential partnerships and other opportunities to increase shareholder value.

On the downside

Plug Power (Nasdaq: PLUGD) priced its public offering of 8.265 million common shares and warrants to purchase nearly 6.2 million common shares at $2.42 per unit consisting of one common share and 0.75 warrants. 

American International Group (NYSE: AIG) and the Treasury Department sold 300 million shares of AIG stock for $8.7 billion.

Collective Brands (NYSE: PSS) disappointed with sharply lower first quarter earnings that fell far short of analyst expectations.

In the broad market, declining issues edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 812.

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This page contains a single entry by published on May 25, 2011 6:46 AM.

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