Flat Close Over Economic Data
The markets closed flat with the Dow adding 3 points to 13,107 despite a greater than expected gain in the nation's gross domestic product as consumer sentiment rose less than expected. Nasdaq edged up a point to 2987.
On the upside
Rumors that Microsoft (Nasdaq: MSFT) may be interested in acquiring Netflix (Nasdaq: NFLX) lifted shares of the Internet streaming and DVD rental company.
Eastman Chemical (NYSE: EMN) reported lower third quarter earnings but the results beat expectations and the company lifted its guidance for the year.
Cloud Peak Energy (NYSE: CLD) reported higher third quarter earnings that topped analyst estimates. On the downside
Deckers Outdoor (Nasdaq: DECK) reported lower third quarter earnings and cut its full year outlook.
Goodyear Tire & Rubber (NYSE: GT) disappointed with lower third quarter earnings that missed expectations.
Quantum (NYSE: QTM) priced its private placement offering of convertible senior notes.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 813.
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