Mixed Open As European Leaders Meet
The markets opened mixed with the Dow gaining 83 points to 11,789 as European leaders met to finalize details of a financial bailout package. Nasdaq slipped 4 points to 2634.
On the upside
Sprint (NYSE: S) agreed to provide financing for Clearwire's (Nasdaq: CLWR) 4G network.
Corning (NYSE: GLW) reported higher third quarter earnings that surpassed analyst expectations as revenue climbed and the company expects higher demand from Korea.
Bargain hunters lifted shares of First Solar (Nasdaq: FSLR), whose stock price plunged yesterday after chief executive Rob Gillette left and the company cut its full year guidance.
On the downside
Amazon.com (Nasdaq: AMZN) disappointed with sharply lower third quarter earnings that fell far short of analyst expectations and warned of a possible loss for the current quarter.
Third quarter earnings slipped for Ford (NYSE: F) and the automaker warned of lower margins for the year.
Human Genome Sciences (Nasdaq: HGSI) widened third quarter losses more than expected.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 714.
