Mixed Close Over Rising Gas Prices
Posted on February 17, 2012 at 16:35 PM EST
Rising gasoline prices dampened enthusiasm for the payroll tax cut extension. The markets closed mixed with the Dow climbing 46 points to 12,950 while Nasdaq lost 8 points to 2951.
On the upside
Cloud based digital media solutions provider Brightcove (Nasdaq: BCOV) surged on its first trading day.
Fusion-io (NYSE: FIO) said that it does not comment on rumors or unusual market activity.
Demand Media (NYSE: DMD) narrowed fourth quarter earnings more than expected as revenue rose.
On the downside
CapitalSource (NYSE: CSE) reversed year ago losses but the results fell far short of analyst expectations.
Qlik Technologies (Nasdaq: QLIK) reported higher fourth quarter earnings but the results missed estimates.
Analysts expect Walter Energy (NYSE: WLT) to report lower fourth quarter earnings next week.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 828.
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