October 17, 2012 at 14:19 PM EDT
Mixed Markets Over Earnings
The markets traded mixed during the midday with the Dow losing 12 points to 13,539 over mixed corporate earnings. Nasdaq rose 7 points to 3108.
On the upside
A greater than expected 15% surge in September housing starts lifted shares of Hovnanian Enterprises (NYSE: HOV), PulteGroup (NYSE: PHM) and Beazer Homes (NYSE: BZH).
Dean Foods' (NYSE: DF) WhiteWave Foods unit priced its initial public offering to raise up to $320 million.
Shares of mortgage insurer MGIC Investment (NYSE: MTG) climbed on news that housing starts soared last month.
On the downside
IBM (NYSE: IBM) reported flat third quarter earnings and lower revenue that fell short of analyst expectations.
Apollo Group (NYSE: ABT) reported higher third quarter earnings but revenue slipped to fall short of expectations.
Third quarter earnings rose for Textron (NYSE: TXT) but the results missed analyst estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 842.
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