Strengthening Dollar Weighs Down Markets
On the upside
Origin Agritech completed its second notes repurchase agreement (Nasdaq: SEED) with Citadel Equity Fund.
In a CNBC interview, Canaccord Adams energy technology analyst John Quealy said that Headwaters (NYSE: HW) is expected to increase cash flow in the next two years.
Luna Innovations (Nasdaq: LUNA) acquired Tego Biosciences' portfolio of intellectual property to strengthen its nanomedicines program.
On the downside
Online retail consulting company ForeSee said that Amazon (Nasdaq: AMZN) received the highest score on its customer satisfaction survey but the stock price fell.
Despite overall car and truck sales that are poised to be the worst in nearly thirty years, Ford (NYSE: F) sales will likely surge 25.1% for December as the car company focused on smaller cars. However, shares of the automaker fell.
Concerns that an oversupply of newly built ships will force shipping rates to drop weighed down shares of DryShips (Nasdaq: DRYS).
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 628.
