Modestly Higher Close On Fed President Comments

The markets recovered to close modestly higher with the Dow rising 31 point to 15,451 after Atlanta Federal Reserve President Dennis Lockhart said that September would be too soon for tapering. Nasdaq gained 14 points to 3684.

On the upside

Investors snapped up shares of Micron Technology (Nasdaq: MU) in the wake of its acquisition of Elpida.

Shares of E-Commerce China Dangdang (NYSE: DANG) climbed ahead of its earnings release before market open on Thursday, August 15.

Goodrich Petroleum (NYSE: GDP) chief executive Walter G. Goodrich and president Robert C. Turnham Jr. presented at EnerCom's The Oil & Gas Conference 18 yesterday after market close.

On the downside

KiOR (Nasdaq: KIOR) stock continued falling after reporting disappointing results last week.

Ply Gem Holdings (NYSE: PGEM) fell to a loss for the second quarter due to initial public offering expenses.

Shares of Millennial Media (NYSE: MM) fell ahead of its earnings release after market close.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 1694.

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