January 06, 2011 at 09:44 AM EST
Higher Open Even As Retail Sales Disappoint

The markets opened modestly higher with the Dow adding 8 points to 11,731 even as retail sales disappointed and jobless claims rose. Nasdaq gained 6 points to 2708.

On the upside

Lexicon Pharmaceuticals (Nasdaq: LXRX) reported positive results from a clinical trial of its type 2 diabetes treatment LX4211.

Hauppauge Digital (Nasdaq: HAUP) introduced a new digital TV receiver for laptops and netbooks, a high definition video recorder for game consoles and televisions, and a TV tuner for the Apple (Nasdaq: AAPL) iPad, iPhone and iPod touch.

Amarin (Nasdaq: AMRN) priced its public offering of 12 million American Depositary Shares at $7.60 per ADS.

On the downside

The Wet Seal (Nasdaq: WTSLA) reported a 2.1% drop in same store sales for December.

Quidel (Nasdaq: QDEL) blamed a decrease in influenza product sales for warning of a sharp 52% drop in revenue for the fourth quarter.

Same store sales for Gap (NYSE: GPS) unexpectedly tumbled 3% in December.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 793.


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