Modestly Lower Close As Earnings Disappoint

Investors sold off to send the markets down to a modestly lower close with the Dow losing 14 points to 10,318 over disappointing corporate earnings. Nasdaq fell 10 points to 2146.

On the upside

Kirkland (Nasdaq: KIRK) reversed year ago losses to post a profit for the third quarter as revenue rose.

Shares of Archipelago Learning (Nasdaq: ARCL) surged in its market debut.

The Food and Drug Administration approved Pfizer's (NYSE: PFE) high blood pressure treatment Revatio in an intravenous form.

On the downside

LogMeIn (Nasdaq: LOGM) priced its offering of approximately 3 million common shares at $18.50 per share.

Shares of Dycom Industries (NYSE: DY) fell ahead of its earnings release on Monday after market close.

Moody's Investors Service downgraded Sprint's (NYSE: S) corporate family rating.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 584.

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