Global Economic Concerns Weigh Down Markets
The markets opened lower on the last trading day of the year with the Dow slipping 11 points to 12,275 as global economic concerns weighed down investor sentiment. Nasdaq eased a point to 2612.
On the upside
Invensas paid $35 million in cash to acquire a total of 73 patents from MoSys (Nasdaq: MOSY).
Rebounding silver prices lifted shares of Endeavour Silver (NYSE: EXK) and Silver Wheaton (NYSE: SLW).
Research in Motion's (Nasdaq: RIMM) market share dropped in the quarter that ended in November from 19.7% to 16.6% but the stock price rose.
On the downside
Delcath Systems (Nasdaq: DCTH) may sell up to $39.8 million worth of common stock.
DryShips' (Nasdaq: DRYS) stock price plunged more than 63% in 2011.
Verizon Wireless (NYSE: VZ) will begin charging customers a $2 convenience fee for every payment made online or by telephone beginning January 15, 2012.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE while decliners edged out advancers by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 744.
