Mixed Open After Record Week

The markets opened mixed with the Dow slipping 7 points to 14,966 while Nasdaq gained 11 points to 3390 as investors took a breather after setting new records last week for the Dow and S&P 500.

On the upside

FBR Capital Markets upgraded Cliffs Natural Resources (NYSE: CLF) to an Outperform rating.

Advanced Micro Devices (NYSE: AMD) commenced an exchange of senior notes for registered notes.

Arkansas Best (Nasdaq: ABFS) subsidiary ABF Freight System reached a tentative agreement with the Teamsters National Freight Industry Negotiating Committee for a five year contract.

On the downside

Linn Energy (Nasdaq: LINE) began trading ex-dividend today.

Tyson Foods (NYSE: TSN) disappointed with lower second quarter earnings that fell short of analyst expectations and cut its full year guidance.

Shares of Trina Solar (NYSE: TSL) slipped over concerns that Europe may impose tariffs on Chinese solar panels.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 index added 2 points to 1616.

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