Markets Flat Over Budget Deficit Concerns
The markets traded flat during the midday with the Dow slipping 6 points to 11,352 as concerns of a deepening budget deficit tempered enthusiasm over the tax cut extension. as Nasdaq gained 5 points to 2603.
On the upside
TASER International (Nasdaq: TASR) received five follow-on orders of its TASER X26 electronic control devices.
Jaguar incorporated Gentex's (Nasdaq: GNTX) SmartBeam three mirror automatic dimming system into the new Jaguar XJ.
Mortgage Guaranty Insurance (NYSE: MTG) wrote $1.4 billin in new insurance in November.
On the downside
A jury in a product liability case reached a verdict against Cybex International (Nasdaq: CYBI) and awarded $66 million to the plaintiff. Cybex will appeal the decision.
Ivanhoe Mines (NYSE: IVN) will raise capital to finance the construction of the Oyu Tolgoi copper-gold complex in Mongolia through the sale of stock and warrants to mining and exploration company Rio Tinto.
H&R Block (NYSE: HRB) narrowed second quarter losses but revenue fell to miss expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE while advancers edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 765.
