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.