Mixed Open As Oil Prices Edge Up
The markets opened mixed with the Dow rising 12 points to 12,227 while Nasdaq lost 9 points to 2756 as crude oil prices edged up.
On the upside
Aeterna Zentaris (Nasdaq: AEZS) entered a development, commercialization and marketing agreement with Yakult Honsha for Aeterna Zentaris' anti-cancer compound perifosine in Japan.
The Food and Drug Administration approved Hospira's (NYSE: HSP) docetaxel, a generic version of Sanofi Aventis' (NYSE: SNY) cancer treatment Taxotere.
Hercules Offshore (Nasdaq: HERO) reported a loss for the fourth quarter that was narrower than expected.
On the downside
Finisar (Nasdaq: FNSR) reported higher third quarter earnings but forecast fourth quarter earnings and revenue well below analyst expectations.
US Airways (NYSE: LCC) will pay employees more than $47 million as part of its profit sharing plan.ReneSola (NYSE: SOL) announced plans to offer approximately $175 million of convertible senior notes.In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 822.
