Markets Reopen Mixed After Two-Day Closure
The markets opened mixed after Hurricane Sandy forced Wall Street to close for two days. The Dow gained 46 points to 13,153 while Nasdaq lost 9 points to 2978.
On the upside
Generator maker Generac Holdings (NYSE: GNRC) reported higher third quarter earnings that topped analyst estimates and lifted its full year guidance as sales surged due to Hurricane Sandy preparation.
Bayer announced yesterday that it would pay a premium of approximately $1.2 billion to acquire Schiff Nutrition International (NYSE: SHF).
UBS (NYSE: UBS) reported significant third quarter losses and announced restructuring plans yesterday that included the elimination of 10,000 jobs. On the downside
Riverbed Technology (Nasdaq: RVBD) announced on Monday that it would pay approximately $1 billion to acquire Opnet Technologies (Nasdaq: OPNT).
Western Union (NYSE: WU) reported higher third quarter earnings but the company trimmed its full year outlook.
Talisman (NYSE: TLM) fell to a significant loss for the third quarter and slashed 2013 capital spending by more than $1 billion.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 815.
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