Mixed Markets As Unemployment Rates Inches Up

The markets traded mixed during the midday with the Dow rising 16 points to 16,438 while Nasdaq fell 22 points to 4330 despite strong job growth as the nation’s unemployment rate inched up to 6.7%. 

On the upside 

Shares of Sky-mobi (Nasdaq: MOBI) continued rising after a Seeking Alpha contributor wrote yesterday that the company was undervalued.

Bargain hunters lifted shares of Plug Power (Nasdaq: PLUG).

Third quarter earnings surged for Korn/Ferry International (NYSE: KFY) to beat analyst expectations as revenue climbed.

On the downside

Novatel Wireless (Nasdaq: NVTL) widened fourth quarter losses more than expected and forecast current quarter earnings and revenue below estimates.

Alaska Communications Systems (Nasdaq: ALSK) fell to a loss for the fourth quarter as revenue dropped.

Furmanite (NYSE: FRM) reported higher fourth quarter earnings but the results missed expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 gained 5 points to 1882. Bitcoin lost $32.24 or 4.92% to $622.93.

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