Lower Open As Oil Prices Rebound

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The markets opened lower with the Dow slipping 9 points 12,629 as crude oil prices rebounded. Nasdaq eased a point to 2825.

On the upside

Citigroup (NYSE: C) commenced a 10-for-1 reverse stock split on Friday after market close.

Sysco (NYSE: SYY) reported higher third quarter earnings that topped estimates.

Sino Clean Energy (Nasdaq: SCEI) announced a plan to repurchase up to $20 million worth of common stock.

On the downside

Delta Airlines (NYSE: DAL) will reduce its workforce through a voluntary early retirement plan. 

Tyson Foods (NYSE: TSN) blamed higher feed expenses for flat second quarter earnings that missed analyst expectations.

Sky-mobi (Nasdaq: MOBI) reversed year ago losses to post a profit for the fourth quarter but the results fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks added fraction to 834.

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This page contains a single entry by published on May 9, 2011 6:42 AM.

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