Lower Open On Higher Consumer Prices

|

Higher food and energy prices lifted consumer prices in April to weigh the markets down to a lower open with the Dow slipping 7 points 12,688. Nasdaq lost 3 points to 2859.

On the upside

Goldman Sachs upgraded Dean Foods (NYSE: DF) to a Buy rating.

Second quarter earnings surged for Agilent Technologies (NYSE: A) to surpass analyst expectations by a wide margin and the company forecast current quarter results ahead of estimates.

Shares of Vermillion (Nasdaq: VRML) continued climbing after a study published in Obstetrics & Gynecology reported that the company's OVA1 blood test more accurately identified cancerous ovarian masses in women than the currently recommended CA 125 blood test.

On the downside

Yahoo (Nasdaq: YHOO) said that Alipay was sold to Alibaba's chief executive Jack Ma without the knowledge or approval of the board. 

First quarter earnings slipped for Nvidia (Nasdaq: NVDA). Analysts cut their price target on the chipmaker and downgraded the stock citing competition concerns.

El Paso Pipeline Partners (NYSE: EPB) priced its offering of 14 million common units at the discounted price of $34.51 per unit.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 844.

About this Entry

This page contains a single entry by published on May 13, 2011 6:42 AM.

Higher Close As Commodities Fall was the previous entry in this blog.

Global Financial Instability Concerns Sink Stocks is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12