Mixed Close Over European Debt Crisis
The markets closed mixed with the Dow soaring 96 points to 12,720 as the European debt crisis continued to weigh on investors. Nasdaq eased a point to 2786.
On the upside
Cell Therapeutics (Nasdaq: CTIC) anticipates an opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use in mid-February for its Marketing Authorization Application for Pixuvri.
Shareholders approved US Gold's (NYSE: UXG) proposed acquisition of Minera Andes.
A Seeking Alpha contributor noted that CPI (NYSE: CPY) had a yield of 65%.
On the downside
The European Medicines Agency launched an investigation into the role of Novatis' (NYSE: NVS) multiple sclerosis treatment Gilenya in the deaths of eleven patients.
Abercrombie & Fitch (NYSE: ANF) will close three stores in the Minneapolis-St. Paul metropolitan area.
A Seeking Alpha contributor questioned the effectiveness of Achillion Pharmaceuticals' (Nasdaq: ACHN) hepatitis C treatments that are currently in development.
In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 784.
