Federal Reserve Says Recovery Gaining Momentum

December 2, 2009 2:20 PM |
The Federal Reserve reported that consumers spent more and factory production rose in the late fall. The Dow trimmed its losses to close down 18 points to 10,452 while Nasdaq gained 9 points to 2185.

On the upside

The National Institutes of Health cleared thirteen new stem cell lines for research sending shares of StemCells (Nasdaq: STEM) and Geron (Nasdaq: GERN) soaring. 

Opexa Therapeutics (Nasdaq: OPXA) hired clinical development expert Dr. Jaye Thompson to further development of the company's multiple sclerosis treatment Tovaxin.

Shares of Mosaic (NYSE: MOS) rose after the company said that potash demand has climbed.

On the downside

Navistar International (NYSE: NAV) entered a joint venture with Modec to develop all electric commercial trucks.

Shares of video game retailer GameStop (NYSE: GME) fell after Wal-Mart (NYSE: WMT) cut prices on the top 25 video games. 

Shares of Netlist (Nasdaq: NLST) continued falling after Inphi sued the server and storage system maker for patent infringement on Monday.

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 6 points to 596.

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This page contains a single entry by published on December 2, 2009 2:20 PM.

Markets Mixed As Job Losses Fall Less Than Expected was the previous entry in this blog.

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