Uptick In Unemployment Weighs Markets Down
A gain in the nation's unemployment rate weighed the markets down during the midday with the Dow slipping 26 points to 13,206. Nasdaq lost 6 points to 3013.
On the upside
Dendreon (Nasdaq: DNDN) widened third quarter losses but revenue climbed as Provenge sales rose.
TripAdvisor (Nasdaq: TRIP) reported higher third quarter earnings that topped analyst estimates as revenue climbed.
Shares of Restoration Hardware (NYSE: RH) soared in its market debut. On the downside
Pitney Bowes (NYSE: PBI) disappointed with sharply lower third quarter earnings and revenue that fell short of expectations.
Skyworks Solutions (Nasdaq: SWKS) reported higher fourth quarter earnings and revenue but the company forecast current quarter earnings below estimates.
Glu Mobile (Nasdaq: GLUU) narrowed third quarter losses as revenue soared but the company warned of larger than expected losses for the current quarter prompting downgrades.
In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 822.
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