Mixed Open As Investors Await Fed Comments

The markets opened mixed with the Dow slipping 7 points to 15,310 while Nasdaq added a point to 3483 as investors await comments from the Federal Reserve.

On the upside

Adobe Systems (Nasdaq: ADBE) reported lower second quarter earnings but the results were better than expected and subscriptions to its Creative Cloud solution increased.

Alcatel-Lucent (NYSE: ALU) will cut costs by selling assets and restructuring debt.

Shares of Gevo (Nasdaq: GEVO) continued rising after the company resumed production at its Minnesota facility.

On the downside

TheStreet highlighted many irregularities with Vanda Pharmaceuticals' (Nasdaq: VNDA) sleep disorder treatment tasimelteon.

Orchard Supply Hardware (Nasdaq: OSH) warned that all equity holders would most likely lose their entire investment as a result of the company's Chapter 11 bankruptcy proceedings.

THL Credit (Nasdaq: TCRD) priced its public offering of 6.6 million common shares at the discounted price of $14.62 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index eased a point to 1650.

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