Mixed Markets As Earnings Disappoint

The markets traded mixed during the midday with the Dow dropping 52 points to 15,321 with investors relieved that a default was averted but concerns persisted about corporate earnings. Nasdaq gained 11 points to 3850.

On the upside

Kingold Jewelry (Nasdaq: KGJI) will host investor meetings and media appearances in the United States during the week of November 18.

Credit Suisse upgraded Jinko Solar (NYSE: JKS) from a Neutral rating to a Buy rating.

A jury found that Qualcomm (Nasdaq: QCOM) infringed on ParkerVision (Nasdaq: PRKR) patents.


On the downside


Overstock.com (Nasdaq: OSTK) reported higher third quarter earnings and revenue but analysts were disappointed with the results.

Ultratech (Nasdaq: GS) fell to an unexpected loss for the third quarter as revenue plunged.

UnitedHealth Group (NYSE: UNH) reported higher third quarter earnings and revenue but analysts were disappointed that the results merely met expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 1727.

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