Flat Markets Over Mixed Earnings
The markets traded near the flatline during the midday with the Dow edging up 7 points to 13,603 over mixed corporate earnings. Nasdaq slipped 8 points to 3127.
On the upside
Jefferies Co. analyst Peter Misek upgraded Research In Motion (Nasdaq: RIMM) to a Buy rating and lifted his price target from $13 to $19.50.
StockCall.com issued a research report on Arch Coal (NYSE: ACI) saying that the coal industry outlook was improving.
On the downside
Jefferies analyst James Kisner downgraded Finisar (Nasdaq: FNSR) to an Underperform rating and slashed his price target from $14 to $7.50. A drop in earnings from Intel weighed down shares of rival chipmaker Advanced Micro Devices (NYSE: AMD).
TheStreet Ratings affirmed its Sell rating on Arena Pharmaceuticals (Nasdaq: ARNA).
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 index held steady at 1480.
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