Mixed Open Over Mixed Earnings

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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.

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

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