Mixed Open Over Economic Concerns

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The markets opened mixed with the Dow slipping 8 points 12,470 while Nasdaq rose 7 points to 2790 over continued concerns about the health of the economic recovery.

On the upside

First quarter earnings for Dell (Nasdaq: DELL) nearly tripled to beat analyst expectations as the company cut costs.

SodaStream International (Nasdaq: SODA) reported higher first quarter earnings as revenue rose prompting the company to lift its full year guidance.

OxiGene (Nasdaq: OXGN) will present data on its thryroid and non-small cell lung cancer treatment Zybrestat at the American Society of Clinical Oncology meeting from June 3-7, 2011.

On the downside

Staples (Nasdaq: SPLS) reported higher first quarter earnings but the results fell short of analyst expectations prompting the office supplies retailer to cut its full year forecast. 

First quarter earnings rose for Chico's FAS (NYSE: CHS) but revenue missed estimates.

Celldex Therapeutics (Nasdaq: CLDX) priced its offering of 10 million common shares at the discounted price of $3.15 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 823.

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This page contains a single entry by published on May 18, 2011 6:42 AM.

Disappointing Data Sends Markets To Lower Close was the previous entry in this blog.

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