The markets traded mixed during the midday with the Dow easing 4 points to 11,429 as investors digested news that more job may be lost in the financial sector. Nasdaq climbed 10 points to 2576.
On the upside
Shares of Coffee Holding (Nasdaq: JVA) rose ahead of its ex-dividend date on Thursday, October 13, 2011.
American Airlines parent AMR (NYSE: AMR) announced seat capacity cuts and the retirement of up to eleven Boeing 757s.
Jones Group (NYSE: JNY) is in negotiations to sell its jeans business for between $350 million to $400 million.
On the downside
Shares of STMicroelectronics (NYSE: STM) fell as growth projections for semiconductors have dropped.
Piper Jaffray analyst Ahmar Zaman downgraded Rubicon (Nasdaq: RBCN) citing lower LED prices.
Arrow Electronics (NYSE: ARW) will move its global headquarter from Melville, New York to Denver, Colorado.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 682.
