Stocks Open Mixed on Improving Job Outlook
1st time unemployment claims for the last week were expected to fall as the economy slowly recovered.  Meanwhile, investors were focused on Hewlett-Packard's bid for 3Com. The Dow lost 6 points to 10,284 while Nasdaq edged up 3 points to 2170.

On the upside

3Com (Nasdaq: COMS) received a $2.7 billion takeover bid from Hewlett-Packard (NYSE: HPQ) to help the computing giant expand its networking equipment product line.  Shares of Brocade Communications (Nasdaq: BROC) fell as speculation ended that the networking gear was also targeted by HP for an acquisition.

Advance Micro Devices (NYSE: AMD) settled all legal disputes with its chip-making rival Intel (Nasdaq: INTC) by getting a $1.25 billion payout.

Wal-Mart Stores (NYSE: WMT) reported higher revenues and 3rd quarter profits while raising its outlook for the year.  Sales at U.S stores opened for at least a year edged lower, but overseas growth picked up the difference.

On the downside

Green Mountain Coffee Roasters (Nasdaq: GMCR) posted 4th quarter profits that doubled, but lowered its guidance for the 1st quarter.

Tetra Tech (Nasdaq: TTEK) reported better than expected 4th quarter results, but offered an earnings outlook that missed analysts' estimates.  The company provides engineering services.

James River Coal (Nasdaq: JRCC) raised $125 million in convertible senior notes.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE, but were narrowly edged out on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 593.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here