Mid-Day Report

The markets traded mixed during the midday ahead of the Federal Reserve's meeting tomorrow. The Dow rose 13 points to 11,855 while Nasdaq lost 6 points to 2400.

On the upside

Barrier Therapeutics (Nasdaq: BTRX) will be acquired for approximately $148 million in cash by privately held Stiefel Laboratories.

Goodrich Petroleum (NYSE: GDP) will purchase a 50% non operated interest in Louisiana's Haynesville Shale site.

RBC Capital Markets analyst Kurt Hallead upgraded National Oilwell (NYSE: NOV) and lifted his price target for the oilfield services company saying that revenue is expected to rise.

On the downside

Circuit City (NYSE: CC) last week reported that first quarter losses widened due to lower sales and warned that second quarter losses will be greater than expected.

Pier 1 Imports (NYSE: PIR) disappointed with a wider than expected loss for the first quarter.

Capital Source (NYSE: CSE) reported that it sold $1.5 billion in mortgage backed securities at a loss of $36 million.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 723.

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