Mixed Close On Steady Consumer Prices
It was a mixed close for the markets with the Dow losing 7 points to 13,164 while Nasdaq gained 13 points to 3030 as consumer prices held steady in July.
On the upside
Sprint (NYSE: S) began offering a $100 American Express rewards card for all online smartphone purchases.
MetroPCS (NYSE: PCS) will deploy its Voice over LTE service soon.
VimpelCom (NYSE: VIP) reported sharply higher second quarter earnings that surpassed analyst expectations.
On the downside
KeyBanc Capital Markets analyst Scott Hamann downgraded Smith & Wesson (Nasdaq: SWHC) to a Hold rating. FBR Capital downgraded MGIC Investment (NYSE: MTG) to a Market Perform rating.
Ellington Financial (NYSE: EFC) priced its public offering of 3.5 million common shares at the discounted price of $22.45 per share.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 804.
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