Mixed Close As Auto Sales Climb
The markets closed mixed with the Dow rising 20 points to 11,691 as rising inflation in Europe dampened enthusiasm over higher domestic auto sales. Nasdaq lost 10 points to 2681.
On the upside
The New York Times reported that Qualcomm (Nasdaq: QCOM) is finalizing plans to offer approximately $3.5 billion to acquire Atheros Communications (Nasdaq: ATHR) .
Hudson Securities and Stifel Nicolaus both initiated coverage of Motorola Mobility (NYSE: MMI), which was created when Motorola split into two companies, with Buy ratings.
Molycorp (NYSE: MCP) may double its rare earth metals output from 20,000 tons to 40,000 tons in 2012.
On the downside
Mattson Technology (Nasdaq: MTSN) reported preliminary fourth quarter revenue below previously forecast figures due to shipment delays.
A lawsuit has been filed against Interclick (Nasdaq: ICLK) for online privacy violations.
Home BancShares (Nasdaq: HOMB) warned of a significant loan loss provision of up to $65 million for the fourth quarter.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 785.
