Flat Close As Investors Monitor Global Conditions
The markets closed flat with the Dow rising 7 points to 13,175 while Nasdaq slipped 4 points to 3011 as investors continued to monitor global economic developments.
On the upside
Bloomin' Brands (Nasdaq: BLMN) stock climbed on its first trading day after the restaurant operator reduced the number of shares being offered and lowered its price.
Wells Fargo analyst Jennifer Fritzsche suggested that Dish Network (Nasdaq: DISH) invested in the debt securities of Clearwire (Nasdaq: CLWR).
Computer Sciences (NYSE: CSC) reported sharply lower second quarter earnings as revenue fell but the results were better than expected.
On the downside
Alpha Natural Resources (NYSE: ANR) widened second quarter losses more than expected. Jive Software (Nasdaq: JIVE) reported a loss for the second quarter and forecast current quarter revenue below analyst estimates.
Nxstage Medical (Nasdaq: NXTM) narrowed second quarter losses but the company forecast third quarter results that fell short of expectations.
In the broad market, advancing issues edged out decliners by a margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 800.
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