July 31, 2012 at 10:38 AM EDT
Mixed Open As Spending Holds Steady
The markets opened mixed with the Dow slipping 18 points to 13,054 while Nasdaq added 2 points to 2947 as consumer spending held steady in June.
On the upside
Cirrus Logic (Nasdaq: CRUS) reported lower first quarter earnings but the results topped analyst estimates and the company forecast sharply higher second quarter revenue.
Accretive Health (NYSE: AH) will settle a lawsuit filed by the Minnesota attorney general by closing operations in the state and paying a fine of approximately $2.5 million.
Cobalt International Energy (NYSE: CIE) widened second quarter losses but the oil exploration company reported a vast amount of hydrocarbon accumulation and oil deposits at its Cameia No. 2 appraisal well offshore Angola.
On the downside
Dendreon (Nasdaq: DNDN) will close a manufacturing facility after sales of its cancer vaccine Provenge dropped.
Coach (NYSE: COH) reported higher fourth quarter earnings but revenue fell short of analyst expectations.
Shares of OCZ Technology (Nasdaq: OCZ) continued falling after Seagate (Nasdaq: STX) refused to address acquisition rumors.
In the broad market, advancing issues edged out decliners by a slim margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 792.
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