Monday, April 4, 2011

Wall Street Ends Little Changed, Sirius XM Radio (NASDAQ: SIRI) Rallies

US stocks finished little changed on Monday as investors turned cautious ahead of earnings season.

The Dow Jones Industrial Average climbed 23.31 points, or 0.19%, to finish at 12,400.03. The S&P 500 advanced 0.46 points, or 0.03%, to close at 1,332.87. The Nasdaq Composite fell 0.41 points, or 0.01%, to 2,789.19.

Shares of Sirius XM Radio Inc. (NASDAQ: SIRI) rallied 5 cents, or 3.03%, to close at $1.70.

Medifast Inc. (NYSE: MED) plunged $1.34, or 7.94%, $16.58 after the provider of weight loss programs said in an April 1 statement that it reduced 2008 and 2009 profit by 4 cents a share because of accounting errors in expense recording.

Ambassadors International, Inc. (NASDAQ: AMIE) lost $2.15, or 76.79% after the Seattle cruise ship company filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. 

European stocks closed mostly lower. The UK FTSE rose 7.06 points, or 0.12% to 6,016.98. The German DAX and French CAC decreased 0.06% and 0.29% respectively.

Asian stocks finished up. The Nikkei 225 rose 10.50 points or 0.33% to 9,718.89. The Hang Seng index of Hong Kong jumped 348.68 points or 1.46% to 24,150.58.

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