Modestly Higher Close As Jobless Claims Fall
The markets closed modestly higher with the Dow rising 26 points to 13,103 despite disappointing earnings as jobless claims fell. Nasdaq added 4 points to 2986.
On the upside
Gardner Denver (NYSE: GDI) began soliciting bids for a possible acquisition of the company.
Teradyne (NYSE: TER) reported higher third quarter earnings as revenue soared to beat analyst expectations.
NXP Semiconductor (Nasdaq: NXPI) reversed year ago losses to post a profit for the third quarter. On the downside
Third quarter earnings plunged for New York Times (NYSE: NYT).
Quantum (NYSE: QTM) fell to a loss for the second quarter as revenue dropped.
Shares of Pandora Media (NYSE: P) tumbled after Bloomberg reported that Apple (Nasdaq: AAPL) engaged in discussions to introduce an Internet radio service in early 2013.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 816.
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