Mixed Open Over Mixed Earnings


The markets opened mixed with the Dow rising 9 points to 12,817 while Nasdaq fell 14 points to 2849 over mixed corporate earnings.

On the upside

Kulicke & Soffa (Nasdaq: KLIC) reported sharply higher second quarter earnings that surpassed analyst expectations by a wide margin and forecast third quarter results well ahead of estimates.

First quarter earnings for Sirius XM Radio (Nasdaq: SIRI) surged as subscribers climbed.

MetroPCS (NYSE: PCS) reported higher first quarter earnings as revenue climbed.

On the downside

Sify Technologies (Nasdaq: SIFY) disappointed with a loss for the fourth quarter. 

Although third quarter earnings for Parexel International (Nasdaq: PRXL) rose, the results fell short of analyst expectations and the biopharmaceutical services firm cut its full year guidance.

Lee Enterprises (NYSE: LEE) swung to a loss for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 852.

About this Entry

This page contains a single entry by published on May 3, 2011 6:49 AM.

Markes Close Lower As Airline Surcharges Rise was the previous entry in this blog.

Earnings Disappoint, Markets Slip 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