Stocks Cautious, Home Sales Surge, GE Seeks Suitor
The stock market experienced a cautious, drifting session. Positive news of new home sales surging 9.6% and the durable goods figure climbing 4.6% failed to generate the anticipated buying. Even word of General Electric seeking a buyer for its security unit at $2 billion failed to knock the market out of its listless nature today. Despite the erratic slowness, shares managed to close slightly higher on the day with the DJIA advancing +4.23 to 9543.52, the tech heavy Nasdaq climbing +0.20 to 2024.43 and the broad based S&P 500 just breaking even by +0.12 to 1028.12.
Blue Coat Systems
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PowerRating): Beat analysts estimates by 1 penny sending shares higher by 13.27% or $2.29 to $19.55.
Isle of Capri Casinos
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PowerRating): Fell 15.26% or $1.83 to $10.16/share after dramatically missing analysts estimates by 87%.
Myriad Genetics
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PowerRating): Crushed analysts estimates by 60% with shares soaring 19.36% or $5.01 to $30.89.
DR Horton
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PowerRating): Positive new home sales figures lifted the company 5.67% or 74 cents to $13.79/share.
Oil fell 62 cents to $71.41, Gold declined 20 cents to $945.80 and the VIX fear index advanced 0.12% to 24.95.
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