August 05, 2011 at 17:37 PM EDT
Mixed Close As Unemployment Rate Slips

The markets closed mixed with the Dow climbing 60 points to 11,444 as a modest slip in the nation's unemployment rate tempered concerns of an extended global economic downturn. Nasdaq tumbled 23 points to 2532.

On the upside

Bargain hunters snapped up shares of Dendreon (Nasdaq: DNDN), whose stock price plunged yesterday on disappointing sales of its prostate cancer treatment Provenge.

European Central Bank's announcement that it will purchase Italian and Spanish bonds lifted shares of Banco Santander (NYSE: STD).

Shares of Web.com (NYSE: BPZ) continued climbing after posting better than expected second quarter results yesterday.

On the downside

Dresser-Rand (NYSE: DRC) reported sharply lower second quarter earnings as expenses climbed.

Magna International (NYSE: MGA) disappointed with lower second quarter earnings even as revenue rose.

Weight Watchers (NYSE: WTW) reported higher second quarter earnings that topped analyst estimates on higher revenue and the company lifted its full year outlook but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 714.
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