Mixed Open As New Home Prices Soar

The markets opened mixed with the Dow losing 31 points to 15,536 while Nasdaq rose 10 points to 3590 a new home prices soared to a five year high.

On the upside

Hanesbrands (NYSE: HBI) will pay a premium of approximately $575 million in cash to purchase Maidenform (NYSE: MFB).

VMware (NYSE: VMW) reported higher second quarter earnings that topped analyst estimates as revenue rose.

Second quarter earnings rose for EMC (NYSE: EMC) on higher revenue.

On the downside

Broadcom (Nasdaq: BRCM) blamed an impairment charge for falling to a loss for the second quarter.

Sarepta Therapeutics (NYSE: SRPT) will submit a New Drug Application for its Duchenne muscular dystrophy treatment eteplirsen but the stock price dropped.

Polycom (Nasdaq: PLCM) chief executive Andrew Miller resigned after irregularities were found in his expense reports.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE while decliners edged out advancers by a slim margin on Nasdaq. The broader S&P 500 index slipped 2 points to 1689.

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