Flat Open On Housing Starts

The markets opened flat with the Dow adding 7 points to 15,119 as July housing starts climbed less than expected. Nasdaq rose 8 points to 3613.

On the upside

Goldman Sachs upgraded Pandora Media (NYSE: P) from a Neutral rating to a Buy rating.

A gain in new home construction lifted KB Home (NYSE: KBH) and PulteGroup (NYSE: PHM).

Bargain hunters lifted shares of Millenial Media (NYSE: MM).


On the downside


First Marblehead (NYSE: FMD) widened fourth quarter losses as revenue fell.


Pixelworks (Nasdaq: PXLW) will sell 2.63 million shares of common stock at the discounted price of $3.50.

Shares of InterOil (NYSE: IOC) continued falling.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 held steady at 1661.

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