Dow Advances As Jobless Claims Fall
January 24, 2013 at 04:36 AM EST
The Dow advanced during the midday by climbing 77 points to 13,856 as first time applications for unemployment benefits fell its lowest level in five years. Apple’s disappointing results weighed Nasdaq down 10 points to 3142. On the upsideF5 Networks (Nasdaq: FFIV) reported higher first quarter earnings and revenue and forecast current quarter earnings ahead of estimates.Third quarter earnings rose for InvenSense (NYSE: INVN) to top analyst estimates.Brunswick (NYSE: BC) narrowed fourth quarter losses more than expected as revenue climbed.On the downsideShares of Cirrus Logic (Nasdaq: CRUS) fell ahead of its earnings release after market close. Molycorp (NYSE: MCP) extended its losses after warning yesterday of lower revenue and cash flow.Under Armour (NYSE: UA) senior vice president of footwear will resign effective February 22.In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 index added 2 points to 1497.
