The markets closed mixed with the Dow losing 15 points to 11,007 as plunging new home construction tempered upbeat earnings from the retail sector. Nasdaq rose 6 points to 2476.
On the upside
Shares of Quantum (NYSE: QTM) climbed over speculation that the company may be the target of a possible acquisition.
WESCO International (NYSE: WCC) will pay approximately $246.5 million to acquire TVC Communications from private equity firm Palisades Associates.
Qualcomm (Nasdaq: QCOM) reassured investors that inventory levels for wireless chips will be lower than normal in 2011.
On the downside
China Nepstar Chain Drugstore (NYSE: NPD) disappointed with lower third quarter earnings even as revenue rose.
Daqo New Energy (NYSE: DQ) reported higher third quarter earnings but the stock price fell over concerns that supply will outstrip demand.
NetApp (Nasdaq: NTAP) reported sharply higher second quarter earnings that topped analyst estimates but the company forecast third quarter results that fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 707.
