Mid-Day Report

The markets traded mixed during the midday as higher jobless claims tempered enthusiasm from upbeat earnings news with the Dow falling 47 points to 13,1604. Nasdaq gained 8 points to 2609.

On the upside

Pier 1 Imports (NYSE: PIR) narrowed third quarter losses as expenses dropped prompting an upgrade.

Sunrise Senior Living (NYSE: SRZ) dismissed three finance executives after a probe uncovered improper accounting practices. Financial results from 1999 through 2005 will be restated.

Bally Technologies (NYSE: BYI) reported higher first quarter earnings that beat expectations by ten cents and forecast 2008 results above estimates.

On the downside

Analysts downgraded Altus Pharmaceuticals (Nasdaq: ALTU) after the company terminated its partnership with Genentech (NYSE: DNA) to develop and market its human growth hormone ALTU-238.

Array BioPharma (Nasdaq: ARRY) reported that its cancer treatment ARRY-886 failed three separate clinical trials.

Piper Jaffray analyst Jesse Pichel downgraded LDK Solar (NYSE: LDK) despite higher than expected third quarter revenue as gross margins tumbled.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by a margin of more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 753.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here