The Dow Gains 37 Points, Nasdaq Falls 21
The Dow gained 37.06 points to close at 13,383.84, the Nasdaq fell 21.15 points to close at 2,525.29, and the S&P 500 fell 1.96 points to close at 1,501.19. Oil gained $0.71 to close at $63.71.
Volume was modest with 3.14 billion shares trading on the NYSE and 2.3 billion trading on the Nasdaq. Advancers topped Decliners by a margin of 25:07 on the NYSE and 21:09 on the Nasdaq.
In individual stories, Astea International (NASDAQ: ATEA) gained 43% after reporting March quarterly revenues of $7.85M versus $3.84M last year. The Company reported EPS of $0.36, versus loss of $0.64 last year. STEC Inc (Nasdaq: STEC) fell 25% after reporting Q1 EPS of $0.04 vs. consensus of $0.07. Revenues were $47.2 million vs. $44.83 million consensus. Sees Q2 EPS between $0.01-0.03 vs. consensus of $0.10. Sees Q2 revenues between $41-43 million vs. $49.2 million consensus. Also, Deutsche Bank and CIBC downgrade the stock this morning.
Tomorrow, investors will be looking for earnings from Arcelor Mittal (NYSE: MT), Deere & Co (NYSE: DE), Federated Dept Stores (NYSE: FD), and Jack In The Box (NYSE: JBX).
Also, investors will be looking for economic data on April Housing Starts, Building Permits, Capacity Utilization and Oil Inventories.
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