Mixed Close On Rising Home Prices

It was a mixed close for the markets with the Dow losing 25 points to 15,542 while Nasdaq held steady at 3579 as new home sales climbed even as prices rose.

On the upside

Electronic Arts (Nasdaq: EA) reported higher first quarter earnings and revenue that topped analyst estimates.

Shares of Agios Pharmaceuticals (Nasdaq: AGIO) surged in its market debut.

A Seeking Alpha contributor wrote that Zhone Technologies (Nasdaq: ZHNE) had the potential to become an $8 to $10 stock within 12 to 18 months.

On the downside

Walter Energy (NYSE: WLT) slashed its quarterly dividend from 12.5 cents per share to a penny per share.

Hatteras Financial (NYSE: HTS) disappointed with lower second quarter earnings as revenue dropped.

Motorola Solutions (NYSE: MSI) slashed its sales guidance for 2013 for the second time in three months.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index fell 6 points to 1685.

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