Lower Open Ahead Of Rate Decision
The markets opened lower with the Dow losing 15 points to 12,174 ahead of the Federal Reserve's interest rate decision. Nasdaq slipped 3 points to 2684.
On the upside
Achillion Pharmaceuticals (Nasdaq: ACHN) priced its public offering of 9.6 million common shares at $5.90 per share to raise approximately $52.9 million.
CarMax (NYSE: KMX) reported higher first quarter earnings that topped analyst expectations as revenue rose.
Third quarter earnings doubled for Jabil Circuit (NYSE: JBL) to beat analyst estimates as revenue climbed.
On the downside
Adobe Systems (Nasdaq: ADBE) reported sharply higher second quarter earnings that topped expectations but analysts were disappointed with its current quarter outlook.
Philips Electronics (NYSE: PHG) blamed weak demand for warning that second quarter results will fall short of expectations.
FSI International (Nasdaq: FSII) disappointed with lower third quarter earnings as revenue fell.
