Mixed Markets At Midday
The markets traded mixed during the midday with the Dow slipping 15 points to 13,077 ahead of tomorrow's presidential election. Nasdaq added 4 points to 2986.
On the upside
Third quarter earnings surged for Nam Tai Electronics (NYSE: NTE) as revenue more than doubled.
Oyu Tolgoi, which is majority owned by Turquoise Hill Resources (NYSE: TRQ), signed a binding power purchase agreement with the Inner Mongolia Power Corporation.
Health Net (NYSE: HNT) reported lower third quarter earnings but revenue rose and California extended four of its existing Medi-Cal contracts with the managed health care services provider. On the downside
Bloomberg reported that the Securities and Exchange Commission was investigating Ebix (Nasdaq: EBIX) for the insurance software firm's accounting practices.
Endo Health Solutions (Nasdaq: ENDP) reported higher third quarter earnings but the results fell short of expectations and the company cut its full year guidance.
Shares of Ocwen Financial (NYSE: OCN) continued falling after reported third quarter earnings last week that fell short of expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 817.
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