Higher Open As Gold Prices Fall

December 7, 2009 6:47 AM |
The markets opened higher with the Dow rising 33 points to 10,422 as gold prices fell. Nasdaq added 5 points to 2199.

On the upside

Shares of Nvidia (Nasdaq: NVDA) and Advanced Micro Devices (Nasdaq: AMD) surged after Intel (Nasdaq: INTC) cancelled plans for its new Larrabee based graphics card.

AsiaInfo Holdings (Nasdaq: ASIA) will acquire Linkage Technologies in a cash and stock deal valued at nearly $733 million.

New York Community Bancorp (NYSE: NYB) announced plans to offer 60 million common shares.

On the downside

The Food and Drug Administration determined that Somaxon Pharmaceuticals' (Nasdaq: SOMX) insomnia treatment Silenor failed to meet approval standards in its present form.

Falling gold prices weighed down shares of Iamgold (NYSE: IAG) and Yamana Gold (NYSE: AUY).

Continental Airlines (NYSE: CAL) will issue $200 million in convertible senior notes.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 604.

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This page contains a single entry by published on December 7, 2009 6:47 AM.

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