Mixed Close Over Economic Data

It was a mixed close for the markets with the Dow adding 11 points to 14,712 while Nasdaq slipped 10 points to 3279 as investors weighed a better than expected consumer sentiment report against a disappointingly small gain in the nation's GDP.

On the upside

Theravance (Nasdaq: THRX) fell to a loss for the first quarter but the stock price climbed after the biopharmaceutical announced plans to separate into two publicly traded companies.

LogMeIn (Nasdaq: LOGM) reported a loss for the first quarter but the results were better than expected prompting upgrades.

Newpark Resources (NYSE: NR) reported higher first quarter earnings and revenue that topped analyst estimates and announced plans to repurchase up to $50 million worth of stock.

On the downside

Dyax (Nasdaq: DYAX) reported a wider than expected loss for the first quarter.

Cirrus Logic (Nasdaq: CRUS) disappointed with sharply lower fourth quarter earnings that fell short of analyst expectations.

PMC-Sierra (Nasdaq: PMCS) reported a wider than expected loss for the first quarter as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index slipped 2 points to 1582.

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