Drop In Jobless Claims Tempers Disappointment With Apple
Falling jobless claims tempered disappointment with Apple iPhone sales. The markets closed mixed with the Dow gaining 46 points to 13,825 while Nasdaq dropped 23 points to 3130.
On the upside
ITT Educational Services (NYSE: ESI) fell to an unexpected loss for the fourth quarter but the for profit educator said that a new scholarship program was successful in recruiting in new students.
The National Advertising Division sided with Tempur-Pedic International (NYSE: TPX) and recommended that Serta change or stop advertising claims comparing its products to the iComfort Sleep System.
On the downside
OSI Systems (Nasdaq: OSIS) reported flat second quarter earnings and lowered its full year revenue outlook. OPKO Health (NYSE: OPK) will sell $150 million in convertible senior notes.
McCormick & Co. (NYSE: MKC) blamed higher raw material expenses for fourth quarter earnings that missed expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The broader S&P 500 index held steady at 1494.
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