Markets Recover To Close Higher
August 10, 2012 at 10:29 AM EDT
The markets recovered in late afternoon trading to close higher with the Dow gaining 42 points to 13,207 even as China’s export growth slowed. Nasdaq added 2 points to 3020.On the upsideAnalysts expect Groupon (Nasdaq: GRPN) to report upbeat second quarter results Monday after market close. Gafisa (NYSE: GFA) swung to an unexpected profit for the second quarter.Bally Technologies (NYSE: BYI) reported higher fourth quarter earnings that topped analyst estimates.On the downsideThe Wall Street Journal reported that ATP Oil (Nasdaq: ATPG) may file for bankruptcy protection soon. DG (Nasdaq: DGIT) disappointed with sharply lower second quarter earnings that fell short of expectations.Profit taking sent shares of Delek (NYSE: DK) tumbling.In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 801.
