Mid-Day Report
Soaring crude oil prices that surpassed $130 per barrel for the first time weighed down the markets during the midday with the Dow dropping 54 points to 12,775. Nasdaq lost 4 points to 2489.

On the upside

Shares of Quantum Fuel Systems Technologies (Nasdaq: QTWW) continued to rise after announcing that its German partner Asola Advanced and Automotive Solar Systems GmbH will increase its solar module manufacturing capacity to 45 megawatts.

Sallie Mae (NYSE: SLM) announced the appointment of two new senior vice presidents, both of whom worked for Bank of America.

Health Net (NYSE: HNT) is expected to affirm its full year earnings guidance during a meeting with investors on May 22.

On the downside

Soleil downgraded UAL (Nasdaq: UAUA) as crude oil prices surged and the International Air Transport Association announced that international travelers in business and first class dropped by the biggest amount since 2003.

Regeneron Pharmaceuticals (Nasdaq: REGN) and Sanofi-Aventis (NYSE: SNY) announced that their ovarian cancer treatmetn aflibercept failed a midstage clinical trial.

Red Robin Gourmet Burgers (NYSE: RRGB) blamed lower sales in the Western states for first quarter earnings that dropped to fall short of estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 737.

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