Jump In New Home Sales Lifts Markets
September new home sales jumped 5.7% to lift the markets during the midday with the Dow rising 27 points to 13,129. Nasdaq added 2 points to 2993.
On the upside
PolyOne will pay approximately $246 million to acquire Spartech (NYSE: SEH).
Monster Beverage (Nasdaq: MNST) issued a statement affirming that its energy drinks are safe to consume.
Polycom (Nasdaq: PLCM) reported lower third quarter earnings and revenue but the results beat analyst expectations.
On the downside
Compuware (Nasdaq: CPWR) disappointed with lower second quarter earnings and revenue.
Nationstar (NYSE: NSM) lost its bid to acquire Residential Capital's loan servicing business at a bankruptcy auction.
Newfield Exploration (NYSE: NFX) fell to a wider than expected loss for the third quarter.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 814.
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