Markets Rise As Investors Monitor European Developments
The markets traded higher during the midday with the Dow rising 67 points to 13,163 as investors continued to monitor developments in Europe. Nasdaq climbed 25 points to 2993.
On the upside
Vringo (NYSE: VRNG) settled its patent infringement suit against AOL (Nasdaq: AOL). (Nasdaq: SOHU) reported lower second quarter earnings but the results were better than expected as revenue rose.
Changyou (Nasdaq: CYOU) reported higher second quarter earnings that topped estimates on record revenue.
On the downside
Tyson Foods (NYSE: TSN) disappointed with sharply lower third quarter earnings that missed expectations even as revenue rose and the meat producer cut its full year revenue guidance. HCA (NYSE: HCA) reported higher second quarter earnings but disclosed that the Miami district attorney was investigating the hospital operator for performing medically unnecessary cardiac procedures.
Second quarter earnings fell for AES (NYSE: AES) to miss expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 7 points to 797.
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