Mid-Day Report

The markets traded modestly higher during the midday over Mars' $23 billion offer for Wm. Wrigley Jr. The Dow gained 26 points to 12,917 while Nasdaq rose 7 points to 2430.

On the upside

Shares of Sysco (NYSE: SYY) climbed ahead of its third quarter earnings release.

Apple (Nasdaq: AAPL) updated its iMac computers with faster processors and more powerful graphics.

Shares of Visa (NYSE: V) rose ahead of its first earnings report as a publicly traded company.

On the downside

X-Rite (Nasdaq: XRIT) ended an interest rate swap agreement it had with Goldman Sachs and is negotiating the payment of its settlement amount.

Brasil Telecom received a buyout offer of approximately $3.5 billion from rival Oi Paricipacoes (NYSE: TNE).

Shares of potash producers Mosaic (NYSE: MOS) and Agrium (NYSE: AGU) gave back some of their gains from last week when rising potash prices lifted their stock.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 724.

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