Mixed Close Over Corporate News
The markets closed mixed with the Dow gaining 18 points to 13,507 as investors continued to monitor corporate earnings. Nasdaq slipped 8 points to 3117.
On the upside
Bloomberg reported that Dell (Nasdaq: DELL) engaged in discussions to be taken private.
Shares of Herbalife (NYSE: HLF) continued rising after the nutritional supplements maker defended itself against pyramid scheme allegations last week.
Fifth & Pacific (NYSE: FNP) reported an impressive 27% jump in fourth quarter same store sales at its kate spade stores.
On the downside
Nam Tai Electronics (NYSE: NTE) will report fourth quarter and full year results before market open on Monday, January 28, 2013. GT Advanced Technologies (Nasdaq: GTAT) stock continued falling after announcing additional layoffs and the idling of a solar furnace factory last week.
Hhgregg (NYSE: HGG) warned of lower third quarter earnings and revenue that will fall short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The broader S&P 500 index eased a point to 1470.
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