December 2012 Archives

Optimism that lawmakers would finalize a deal to avoid the fiscal before the midnight deadline boosted the markets to a sharply higher close with the Dow leaping 166 points to 13,104. Nasdaq jumped 59 points to 3019. 

On the upside

The Food and Drug Administration granted Lexicon Pharmaceuticals (Nasdaq: LXRX) fast track status for its LX1033.

Strong growth of manufacturing activity in China in December lifted shares of Cliffs Natural Resources (NYSE: CLF).

Three Amyris (Nasdaq: AMRS) directors purchased significant shares of company stock.

On the downside

Savient Pharmaceuticals (Nasdaq: SVNT) director Lee S. Simon, M.D. resigned.
 
Cal-Maine Foods (Nasdaq: CALM) disappointed with sharply lower second quarter earnings as expenses climbed.

Motley Fool wrote that Rite Aid (NYSE: RAD) was a speculative investment among retail drugstore chains.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 index surged 23 points to 1426.

The markets traded flat during the midday with the Dow gaining 54 points to 12,992 as lawmakers continued wrestling over details of a fiscal cliff plan before the midnight deadline. Nasdaq climbed 29 points to 2990. 

On the upside

Seeking Alpha listed Herbalife (NYSE: HLF) as one of four oversold dividend stocks.

Peru authorized the amendment to add Pacific Rubiales to BPZ Energy's (NYSE: BPZ) Block Z-1 license agreement.

American Airlines pilots approved a memorandum of understanding related to a possible merger with US Airways (NYSE: LCC).

On the downside

Ford (NYSE: F) is poised to sell over 2 million vehicles in 2012 but the stock price fell.
 
TheStreet expects Citigroup (NYSE: C) to outperform its peers in 2013 but the stock price slipped.

Wunderlich Securities initiated coverage of Marvell Technology (Nasdaq: MRVL) on Friday with a Hold rating.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index added 4 points to 1407.

The markets opened flat with the Dow edging up 3 points to 12,941 on the last trading day of 2012 as the fiscal cliff impasse continued. Nasdaq gained 21 points to 2981. 

On the upside

A consortium of private equity firms offered a premium of approximately $665.5 million to acquire Duff & Phelps (NYSE: DUF).

Qihoo Technology (NYSE: QIHU) was selected as TheStreet's featured technology winner on Friday.

Suntech Power (NYSE: STP) continued rising over investor approval of China's policy change to support consolidation of the solar industry.

On the downside

Watson Pharmaceuticals (NYSE: WPI) applied for approval of a generic version of the multiple myeloma treatment Velcade but Velcade manufacturer Millennium Pharmaceuticals filed a patent infringement suit against Watson.
 
Monness Crespi Hardt analyst Chris Shaw cited an uncertain business outlook for downgrading Ferro (NYSE: FOE) from a Buy to a Neutral rating.

Seeking Alpha expects Annaly Capital Management (NYSE: NLY) to underperform in 2013.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index added 4 points to 1406.

Congressional leaders met to discuss the fiscal cliff but the markets closed sharply lower with the Dow plunging 158 points to 12,938 as doubts mounted that a deal would be reached to avert tax increases and spending cuts. Nasdaq tumbled 25 points to 2960. 

On the upside

Herbalife (NYSE: HLF) continued climbing after the nutritional supplement company hired a strategic advisor to help address pyramid scheme allegations.

Seeking Alpha wrote that LeapFrog (NYSE: LF) had the potential to double in 2013.

Ford (NYSE: F) will spend approximately $773 million to expand capacity at six manufacturing facilities in Michigan.

On the downside

Shares of Amyris (Nasdaq: AMRS) continued falling after completing a $42.25 million private placement yesterday.
 
Profit taking sank shares of BPZ Resources (NYSE: BPZ), whose stock price rose yesterday after closing the sale of a 49% stake in its offshore Block Z-1 to Pacific Rubiales Energy.

Bloomberg wrote that Hewlett-Packard (NYSE: HPQ) was the worst Dow component stock of 2012.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index fell 15 points to 1402.

With the chances of a fiscal cliff deal slowly evaporating, investors sold off sending the markets lower during the midday with the Dow falling 67 points to 13,029. Nasdaq slipped 6 points to 2979. 

On the upside

Wall Street Cheat Sheet noted that shares of LDK Solar (NYSE: LDK) and Suntech Power Holdings (NYSE: STP) advanced recently on news China planned to double solar subsidies.

Yongye (Nasdaq: YONG) entered a $99 million loan facility with China Development Bank.

magicJack (Nasdaq: CALL) named Gerald T. Vento to the position of president and chief executive officer effective January 1, 2013. The voice over IP company also lifted its fourth quarter and full year guidance.

On the downside

Central European Distribution (Nasdaq: CEDC) and Russian Standard revised their strategic alliance.
 
Omeros (Nasdaq: OMER) reported that its knee surgery drug OMS103HP failed a later stage clinical trial.

Zacks Equity Research selected DryShips (NYSE: DRYS) as the Bear of the Day.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index lost 6 points to 1411.

Lower Open On Fiscal Cliff Concerns

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The markets opened lower with the Dow dropping 84 points to 13,012 as the nation moved closer to the fiscal cliff. Nasdaq lost 11 points to 2974. 

On the upside

The Food and Drug Administration granted Aeterna Zentaris (Nasdaq: AEZS) Special Protocol Assessment for a Phase 3 registration trial of its endometrial cancer treatment AEZS-108.

British publisher Pearson will invest $89.5 million in cash to acquire a 5% stake in Barnes & Noble's (NYSE: BKS) Nook Media business.

Magnum Hunter (NYSE: MHR) reported impressive production results from two new Eagle Ford Shale wells.

On the downside

Advanced Micro Devices (NYSE: AMD) vice president Michael Goddard departed the firm after 25 years to join Samsung Electronics.
 
Seeking Alpha does not expect Alcatel-Lucent (NYSE: ALU) to recover until mid-2013 to late 2013.

Nokia (NYSE: NOK) will receive a lump sum payment of approximately $65 million from Research in Motion (Nasdaq: RIMM) to settle a patent dispute but the stock price fell.

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 broader S&P 500 index fell 8 points to 1409.

The markets recovered earlier losses but still closed lower with the Dow losing 18 points to 13,096 as consumer confidence dropped in December. Nasdaq slipped 4 points to 2985. 

On the upside

Longbow upgraded Chemtura (NYSE: CHMT) to a Buy rating.

Forbes noted that Ruckus Wireless (NYSE: RKUS) had a larger market capitalization than some smaller S&P 500 components.

Apple (Nasdaq: AAPL) chief executive Tim Cook received a large cut in his 2012 compensation package.

On the downside

Profit taking sank shares of SGOCO Group (Nasdaq: SGOC) whose stock price rose after the company announced yesterday that it would hold its annual shareholder meeting on December 28, 2012.
 
CNNMoney listed AK Steel (NYSE: AKS) as one of the worst performing stocks of 2012.

Seeking Alpha named Cellcom Israel (NYSE: CEL) as one of the worst telecom stocks of 2012.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index eased a point to 1418.

A drop in consumer sentiment sent the markets tumbling during the midday with the Dow plunging 137 points to 12,977. Nasdaq plummeted 36 points to 2953. 

On the upside

Bargain hunters lifted shares of Nu Skin Enterprises (NYSE: NUS).

Rising silver prices lifted shares of Silvercorp Metals (NYSE: SVM).

BPZ Energy (NYSE: BPZ) sold a 49% stake in Block Z-1 to Pacific Rubiales Energy.

On the downside

The Wall Street Journal named RadioShack (NYSE: RSH) as one of four retailers on its 2012 do-or-die list.
 
Zacks affirmed its Neutral rating on Quicksilver Resources (NYSE: KWK).

Zacks rated 3D Systems (NYSE: DDD) a Strong Buy but the stock price tumbled.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index dropped 17 points to 1402.

The markets opened sharply lower with the Dow tumbling 92 points to 13,021 as the nation moved closer to going over the fiscal cliff. Nasdaq dropped 20 points to 2969. 

On the upside

Diodes (Nasdaq: DIOD) will pay a premium of approximately $151 million to acquire BCD Semiconductor (Nasdaq: BCDS).

Indications that Ugg boots remain popular lifted shares of Deckers Outdoor (Nasdaq: DECK).

Herbalife (NYSE: HLF) extended its gains after announcing that it hired strategic advisor Moelis & Co. and law firm Boies, Schiller & Flexer to fight pyramid scheme allegations.

On the downside

Marvell Technology (Nasdaq: MRVL) continued falling following a jury verdict against the chip maker.
 
Investors locked in profits on Suntech Power (NYSE: STP) whose stock price rose yesterday on China's urbanization plans.

The Wall Street Journal included troubled department store operator J. C. Penney (NYSE: JCP) on its 2013 do-or-die list.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index lost 9 points to 1410.

Disappointing holiday sales weighed the markets down to a lower close the Dow losing 24 points to 13,114. Nasdaq fell 22 points to 2990. 

On the upside

A stronger than expected increase in October home prices lifted shares of mortgage insurer MGIC Investment (NYSE: MTG).

Expectations that China's urbanization plan will spur energy demand lifted shares of Suntech Power Holdings (NYSE: STP) and Yingli Green Energy (NYSE: YGE).

Seeking Alpha expects Aveo's (Nasdaq: AVEO) renal cancer treatment Tivozanib to be approved next year.

On the downside

A jury ordered Marvell Technology (Nasdaq: MRVL) to pay $1.17 billion for infringing on two Carnegie Mellon University patents.
 
Zacks added Aeropostale (NYSE: ARO) to its Strong Sell list.

Disappointing retail sales prompted Ann (NYSE: ANN) to offer 50% off discounts at its Loft stores.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 index slipped 6 points to 1419.

The looming fiscal cliff sent the markets lower during the midday with the Dow falling 40 points to 13,098. Nasdaq dropped 22 points to 2989. 

On the upside

Seeking Alpha wrote that Research in Motion (Nasdaq: RIMM) would be profitable soon.

Bargain hunters lifted shares of Alpha Natural Resources (NYSE: ANR).

MannKind (Nasdaq: MNKD) chairman and chief executive Alfred Mann purchased over $100 million worth of company stock.

On the downside

Disappointing holiday sales weighed down shares of luxury handbag designer Coach (Nasdaq: COH).
 
Seeking Alpha wrote that ServiceNow (NYSE: NOW) used outdated technology and has few growth prospects.

Barron's noted that Standard & Poor's downgraded Radio Shack's (NYSE: KORS) corporate debt rating four levels in 2012.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index lost 7 points to 1419.

Flat Open As Retail Sales Disappoint

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The markets opened flat with the Dow rising 6 points to 13,145 while Nasdaq slipped 5 points to 3007. Holiday retail sales rose a mere 0.7%.

On the upside

Bloomberg reported that Herbalife (NYSE: HLF) retained the services of Moelis & Co. to reverse its recent stock price plunge and announced an investor meeting to respond to questions on January 10, 2013.

Seeking Alpha said that Rite Aid (NYSE: RAD) was in the middle of a turnaround and that the stock price could climb 40%.

Shares of Gol Linhas (NYSE: GOL) continued rising after the airliner separated its Smiles operations.

On the downside

TheStreet affirmed its Buy rating on Yahoo (Nasdaq: YHOO) but the stock price slipped.
 
Medifast (NYSE: MED) acting chief financial officer Edward Powers announced his that he will resign no later than January 4, 2013.

Shares of Michael Kors (NYSE: KORS) fell despite a Seeking Alpha article noting that searches for the company has been steadily increasing.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index eased a point to 1425.

U. S. Markets Closed

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U. S. markets are closed for Christmas.

Fiscal Cliff Worries Sink Stocks

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Fiscal cliff worries sent the markets tumbling to a lower close with the Dow falling 51 points to 13,139 on a shortened trading day. Nasdaq lost 8 points to 3012.

On the upside

A Seeking Alpha contributor expects Celsion (Nasdaq: CLSN) to report upbeat results for its HEAT phase III clinical trail.

Increased auto sales in 2012 lifted shares of Ford (NYSE: F).

Wall Street Cheat Sheet rated Rite Aid (NYSE: RAD) a cautious Outperform.

On the downside

Shares of Advanced Micro Devices (NYSE: AMD) dropped. TheStreet lowered its estimates on the semiconductor last week.
 
Nu Skin Enterprises (NYSE: NUS) extended its losses in the wake pyramid scheme allegations leveled at fellow direct marketer Herbalife (NYSE: HLF).

Shares of Herbalife (NYSE: HLF) retreated despite announcing a stock repurchase plan.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index slipped 3 points to 1426.

With negotiations to avert the fiscal cliff on hold, investors remained on the sidelines for a shortened Christmas Eve trading session with the Dow losing 31 points to 13,158. Nasdaq gave up 6 points to 3014.

On the upside

Time Warner Cable (NYSE:TWC) is aiming to acquire Cablevision Systems Corporation's (NYSE:CVC) Optimum West business, according to a Bloomberg report.  

Shares of discount apparel retailer TJX Companies (NYSE:TJX) rose on optimism for its $200 million purchase of Sierra Trading Post, in particular to boost online sales.

Shares of direct sales company Herbalife (NYSE: HLF) opened higher after eight straight losing session lifted by news of a stock buyback program.

On the downside

Pinnacle Entertainment (NYSE:PNK) announced plans to buy Ameristar Casinos(Nasdaq: ASCA) for about $869 million and $1.9 billion in debt.

Aegerion Pharmaceuticals (Nasdaq: AEGR) received FDA approval for its treatment of a rare cholesterol ailment despite possible risk of liver damage.

Shares of Alexza Pharmaceuticals (Nasdaq: ALXA) fell after the drug company received FDA approval for its treatment of schizophrenia and bipolar disorder.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index lost 4 points to 1425.

No Fiscal Cliff Deal, Stocks Sink

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With no fiscal deal in sight, skittish investors sent the markets tumbling to a sharply lower close with the Dow plummeting 120 points to 13,190. Nasdaq dropped 29 points to 3021.

On the upside

Supervalu (NYSE: SVU) reached an agreement to settle a non-compete suit filed against former executive Leon Bergmann.

Shares of Hovnanian (NYSE: HOV) advanced again after the release of a report earlier this week indicated mnthat home builder sentiment climbed.

Mohawk Industries (NYSE: MHK) will pay approximately $1.5 billion to acquire Marazzi Group.

On the downside

Shares of direct sales company Nu Skin Enterprises (NYSE: NUS) plunged in the wake of pyramid scheme accusations leveled at Herbalife (NYSE: HLF), which also uses a direct sales model.
 
Gardner Denver (NYSE: GDI) ended exclusive negotiations to be bought by SPX (NYSE: SPW).

Investors locked in profits on Suntech Power (NYSE: STP), whose stock price soared recently on China's support for consolidating the solar industry.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index dropped 13 points to 1430.

Markets Plunge As Fiscal Cliff Looms

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The markets extended its losses during the midday with the Dow collapsing 172 points to 13,139 as a fiscal cliff deal continued to elude lawmakers. Nasdaq plummeted 43 points to 3007.

On the upside

Second quarter earnings slipped for Nike (NYSE: NKE) but the results were better than expected.

FirstCity Financial (Nasdaq: FCFC) will by acquired by Varde Partners in an all cash deal valued at approximately $106 million.

EQT Infrastructure will take Westway Group (Nasdaq: WWAY) private for approximately $419 million.

On the downside

Argus Research downgraded Herbalife (NYSE: HLF) to a Hold rating after Pershing Square Capital Management's Bill Ackman called the nutritional supplement company a pyramid scheme.
 
After rejecting American Railcar Industries' (NYSE: ARII) sweetened buyout bid, Greenbrier (NYSE: GBX) indicated that it was willing to engage in further discussions.

Echo Therapeutics (Nasdaq: ECTE) priced its public offering of 3.2 million common shares at the discounted price of $0.95 per share.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 index tumbled 19 points to 1424.

Plan B Failure Sinks Markets

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The failure of House Speaker John Boehner to rally Republican support for his Plan B sent the markets tumbling to a sharply lower open with the Dow plummeting 118 points to 13,192. Nasdaq plunged 42 points to 3008.

On the upside

Pinnacle Entertainment (NYSE: PNK) will pay approximately $869 million to acquire Ameristar Casinos (Nasdaq: ASCA).

Halozyme Therapeutics (Nasdaq: HALO) partnered with Pfizer (NYSE: PFE) to develop and commercialize biologics with recombinant human hyaluronidase enzyme.

Fourth quarter earnings for Tibco Software (Nasdaq: TIBX) topped analyst estimates.

On the downside

Research in Motion (Nasdaq: RIMM) reported sharply lower third quarter earnings and announced changes to its service plans.
 
Micron Technology (Nasdaq: MU) widened first quarter losses as revenue fell.

Standard & Poors's cut Alcatel-Lucent's (NYSE: ALU) unsecured debt rating from B to CCC+.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 index dropped 15 points to 1428.

A surge in previously owned homes sales lifted the markets to a higher close with the Dow gaining 59 points to 13,311. Nasdaq rose 6 points to 3050.

On the upside

Steelcase (NYSE: SCS) reported higher third quarter earnings that topped analyst estimates.

Seeking Alpha wrote that Roth Capital Partners analyst Scott R. Henry expects the Food and Drug Administration to approve Alexza Pharmaceuticals' (Nasdaq: ALXA) agitation treatment Adasuve.

Nasdaq accepted OCZ Technology's (Nasdaq: OCZ) plan to regain compliance with listing requirements.

On the downside

American Railcar (Nasdaq: ARII) may increase its offer to acquire Greenbrier (NYSE: GBX), but Greenbrier already issued a statement saying that the price undervalued the company.
 
KB Home (NYSE: KBH) reported lower fourth quarter earnings and order growth that was below its competitors.

Evercore Partners analyst Patrick Wang lowered his fourth quarter and full year estimates on Advanced Micro Devices (NYSE: AMD).

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index gained 7 points to 1443.

Against a background of political maneuvering in Washington to avert the fiscal cliff, investors stayed on the sidelines mulling over the latest batch of unemployment claims and revised 3rd quarter GDPf.  The Dow slipped 2 points to 13,249 while Nasdaq lost 4 points to 3040.

On the upside

First quarter earnings slipped for Jabil Circuit (NYSE: JBL) but the results were better than expected.

Oracle (Nasdaq: ORCL) will pay a premium of approximately $871 million to acquire Eloqua (Nasdaq: ELOQ).

CarMax (NYSE: KMX) reported higher third quarter earnings and revenue that surpassed analyst expectations.

On the downside

Pershing Square Capital's Bill Ackman said that Herbalife (NYSE: HLF) was a pyramid scheme with the stock selling off for a second consecutive day.

Fourth quarter earnings plunged for Carnival (NYSE: CCL) and the cruise line operator forecast full year results that fell short of expectations.

Shares of Discover Financial Services (NYSE: DFS) fell after higher 4th quarter earnings missed targets while the credit card company set aside money to cover potential loan losses.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by a narrow margin on Nasdaq. The broader S&P 500 index edged up a point to 1437.

The nation's economy expanded at a greater than expected pace in the third quarter but fiscal cliff concern weighed the markets down to a lower open with the Dow slipping 5 points to 13,246. Nasdaq lost 6 points to 3038.

On the upside

IntercontinentalExchange (NYSE: ICE) will pay approximately $8.2 billion to acquire rival NYSE Euronext (NYSE: NYX).

Rite Aid (NYSE: RAD) swung to its first profit in more than five years and lifted its earnings outlook for fiscal 2013.

A Swiss newspaper reported that Roche may have offered to acquire Illumina (Nasdaq: ILMN) at a premium of approximately $8.1 billion.

On the downside

Allscripts Healthcare Solutions (Nasdaq: MDRX) replaced chief executive Glen Tullman with board member Paul Black and ended efforts to explore strategic alternatives.
 
Amicus Therapeutics (Nasdaq: FOLD) reported that its Fabry disease treatment migalastat HCI failed a late stage clinical trial.

Bed Bath & Beyond (Nasdaq: BBBY) reported higher third quarter earnings and revenue but the company forecast current quarter and full year earnings below expectations.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 index edged up a fraction to 1436.

The markets retreated to close lower with the Dow tumbling 98 points to 13,251 as another day passed without a fiscal cliff deal. Nasdaq lost 10 points to 3044.

On the upside

Neptune Technologies & Bioressources (Nasdaq: NEPT) will resume production in Sherbooke, Quebec in six to nine months.

Shares of National Bank of Greece (NYSE: NBG) rose after the European Central Bank announced that it would begin accepting Greek debt as collateral.

China's announcement that it would support solar industry consolidations lifted shares of LDK Solar (NYSE: LDK), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE).

On the downside

THQ (Nasdaq: THQI) filed for Chapter 11 bankruptcy protection.
 
Profit taking sank shares of Nu Skin Enterprises (NYSE: NUS).

Blyth (NYSE: BTH) paid $57.4 million to increase its stake in ViSalus to over 80%.

In the broad market, advancing issues were on par with decliners on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 index fell 10 points to 1435.

The markets traded flat during the midday with the Dow slipping 6 points to 13,344 as investors continued to monitor fiscal cliff developments. Nasdaq added 3 points to 3057.

On the upside

Markel (NYSE: MKL) will pay a premium of approximately $3 billion in cash and stock to buy reinsurer Alterra Capital Holdings (Nasdaq: ALTE).

Shares of Suntech Power Holdings (NYSE: STP) climbed after the Chinese government announced that it would encourage corporate consolidations in the solar industry.

J. C. Penney (NYSE: JCP) recruited former Abercrombie & Fitch (NYSE: ANF) vice president Brandon Tonniges to the position of director of visual merchandising.

On the downside

First quarter earnings slipped for Actuant (NYSE: ATU) to fall short of expectations and the company forecast current quarter results below estimates.
 
Team Health Holdings (NYSE: TMH) priced its secondary offering of 8 million common shares at the discounted price of $28.95 per share.

YPF (NYSE: YPF) expects to finalize a joint development deal with Chevron (NYSE: CVX) by the end of the year.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 index eased 2 points to 1444.

November home construction slowed to weigh the markets down to a lower open with the Dow slipping 25 points to 13,325. Nasdaq lost 6 points to 3048.

On the upside

General Motors (NYSE: GM) will pay approximately $5.5 billion to repurchase 200 million shares of company stock from the Treasury.

Oracle (Nasdaq: ORCL) impressed with higher second quarter earnings that topped analyst estimates as revenue climbed.

Getco will pay a premium of approximately $1.4 billion in cash and stock to acquire Knight Capital (NYSE: KCG).

On the downside

Oncothyreon (Nasdaq: ONTY) reported disappointing results from a Phase 3 clinical trial of its lung cancer treatment L-BLP25.
 
Navistar (NYSE: NAV) fell to a loss for the fourth quarter.

The Federal Trade Commission will oppose Integrated Device Technology's (Nasdaq: IDTI) proposed $330 million acquisition of PLX Technology (Nasdaq: PLXT).

In the broad market, declining issues edged out advancers by a slim margin on the NYSE while decliners outpaced advancers by more than 7 to 5 on Nasdaq. The broader S&P 500 index slipped 4 points to 1442.

As lawmakers appeared to move closer to a deal to avert the fiscal cliff, the markets soared to close sharply higher with the Dow surging 115 points to 13,350. Nasdaq leaped 43 points to 3054.

On the upside

Macquarie Group upgraded Youku Tudou (NYSE: YOKU) to an Outperform rating.

American Railcar Industries (Nasdaq: ARII) offered a premium of approximately $543 million to acquire Greenbrier Companies (NYSE: GBX).

Imperial Capital analyst Edward P. Mally expects increased demand for Tronox's (NYSE: TROX) white pigment TiO2.

On the downside

GT Advanced Technologies (Nasdaq: GTAT) forecast 2013 earnings that fell far short of analyst expectations.
 
Falling gold prices weighed down shares of AuRico Gold (NYSE: AUQ), Eldorado Gold (NYSE: EGO) and Seabridge Gold (NYSE: SA).

Motley Fool wrote that Wal-Mart (NYSE: WMT) could easily take market share from Radio Shack (NYSE: RSH) by expanding its selection of low priced consumer electronic gadgets.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index soared 16 points to 1446.

President Barack Obama reportedly offered the possibility of starting tax rate hikes at $400,000 in income instead of $250,000.  Investors hoped this would get Washington closer to a budget deal.  The Dow surged 81 points to 13,317 while Nasdaq leaped 30 points to 3040.

On the upside

Confidence in the homebuilding industry lifted shares of Ellie Mae (Nasdaq: ELLI) which provides mortgage software and services.

S&P maintained its debt rating on Boyd Gaming (NYSE: BYD) which recently completed its acquisition of Peninsula Gaming LLC in a deal valued at about $1.4 billion.

Shares of Level 3 Communications Inc. (NASDAQ:LVLT) rose on positive analyst ratings.

On the downside

In the wake of the school shooting, shares of gunmakers fell for a second day in the row.  Sturm Ruger Inc (NYSE: RGR) and Smith & Wesson (Nasdaq: SWHC) had posted higher gun sales leading up to the November 2012 elections.

Shares of FactSet (NYSE: FDS) fell after the data research company issued weaker guidance despite meeting last quarter's revenue and earnings targets.

UK authorities may force cigarette companies to start using plain packaging.  Shares of Lorillard (NYSE:LO), Altia (NYSE: MO) and Philip Morris (NYSE: PM) promptly fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index rose 10 points to 1441.

Homebuilder confidence rose to lift the markets to a higher open with the Dow rising 29 points to 13,265. Nasdaq gained 16 points to 3027.

On the upside

Television ratings company Nielsen Holdings offered a premium of approximately $1.26 billion for radio ratings firm Arbitron (NYSE: ARB).

Nokia (NYSE: NOK) may partner with Verizon to sell its popular Lumia 920 smartphone.

Vanda (Nasdaq: VNDA) reported positive Phase III trial results for its Non-24-Hour Disorder treatment tasimelteon.

On the downside

RAIT Financial Trust (NYSE: RAS) priced its public offering of 9 million common shares at the discounted price of $5.75 per share.
 
Galena Biopharma (Nasdaq: GALE) priced its public offering of more than 15 million units at the discounted price of $1.60 per unit.

CL King downgraded Smith & Wesson (Nasdaq: SWHC).

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index rose 4 points to 1434.

Encouraging signs that a fiscal cliff deal may be possible lifted the markets to a sharply higher close with the Dow soaring 100 points to 13,235. Nasdaq surged 39 points to 3010.

On the upside

Shares of Hovnanian Enterprises (NYSE: HOV) continued rising after the homebuilder reported a narrower than expected loss for the fourth quarter last week.

Natixix upgraded Alcatel-Lucent (NYSE: ALU) to a Buy rating and Evercore initiated coverage of the company with an Overweight rating.

Bargain hunters lifted shares of Quiksilver (NYSE: ZQK).

On the downside

Neptune Technologies & Bioressources (NYSE: NEPT) subsidiary Acasti Pharma reported positive interim results from two Phase II clinical trials of its hypertriglyceridemia treatment CaPre but the stock price tumbled.
 
Power to three Silvercorp Metal (NYSE: SVM) mines in the Ying Mining District, Henan Province, China will be suspended for four to five days due to substation upgrades.

Shares of outdoor gear retailer Cabela's (NYSE: CAB) fell over concerns of stricter gun control laws in the aftermath of the Sandy Hook tragedy.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index climbed 16 points to 1430.

The markets extended its gains during the midday with the Dow climbing 76 points to 13,211 after a Republican offer to allow tax increases on the wealthy sparked optimism that a deal to avert the fiscal cliff may be possible. Nasdaq soared 28 points to 2999.

On the upside

Elliott Management offered a premium of approximately $2.3 billion to acquire Compuware (Nasdaq: CPWR).

Caribou Coffee (Nasdaq: CBOU) received an acquisition offer of approximately $340 million in cash from Joh. A. Benckiser.

OCZ Technology (Nasdaq: OCZ) introduced a beta test program for its Linux Acceleration Software caching storage solution.

On the downside

Nam Tai Electronics (NYSE: NTE) declared a quarterly dividend of $0.15 per share payable on January 31, 2013 to shareholders of record December 31, 2012 but the stock price fell.
 
BMO Capital cut its price target on Peabody Energy (NYSE: BTU) from $36.50 to $32.

Canaccord Genuity downgraded SandRidge Energy (NYSE: SD) to a Sell rating.

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index gained 12 points to 1425.

The markets opened higher with the Dow gaining 51 points to 13,186 as Republican House Speaker John Boehner indicated a new stance on taxes for the wealthy which may reopen negotiations to address the fiscal cliff. Nasdaq rose 8 points to 2979.

On the upside

Dahlman Rose upgraded Delta Air Lines (NYSE: DAL) to a Buy rating.

The Food and Drug Administration granted Lexicon Pharmaceuticals' (Nasdaq: LXRX) irritable bowel syndrome treatment LX1033 fast track status.

A Seeking Alpha contributor listed Vivus (Nasdaq: VVUS) as one of seven biotechnology stocks for consideration in 2013.

On the downside

Sprint (NYSE: S) will pay approximately $2.2 billion to acquire the remaining 50% stake in Clearwire (Nasdaq: CLWR) that it does not already own. Shareholders were hoping for a higher price.
 
Global Hunter Securities downgraded Endeavour International (NYSE: END) to an Accumulate rating from Buy and cut its price target from $13 to $9.

First Majestic Silver (NYSE: AG) will acquire Orko Silver in a cash and stock deal.

In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The broader S&P 500 index rose 6 points to 1420.

Continued concerns about the fiscal cliff weighed the markets down to a lower close with the Dow falling 35 points to 13,135. Nasdaq lost 20 points to 2971.

On the upside

AVG Technologies (NYSE: AVG) partnered with Yahoo (Nasdaq: YHOO) to provide secure Internet searches.

Sterotaxis (Nasdaq: STXS) said at Oppenheimer's Healthcare Conference that incoming orders were increasing.

Lifevantage (Nasdaq: LFVN) will repurchase up to $5 million in common stock.

On the downside

Quiksilver (Nasdaq: ZQK) disappointed with sharply lower fourth quarter earnings that fell short of analyst expectations.
 
Centene  (NYSE: CNC) blamed higher costs for slashing its 2012 earnings guidance.

Bank of America (NYSE: BAC) accused MBIA (NYSE: MBI) of interfering with a bond offer.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 index lost 5 points to 1413.

Markets Down As Consumer Prices Slip

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The markets traded lower during the midday with the Dow losing 5 points to 13,165 as November consumer prices slipped 0.3%. Nasdaq fell 14 points to 2977.

On the upside

Bargain hunters lifted shares of Rigel Pharmaceuticals (Nasdaq: RIGL), whose stock price fell yesterday on disappointing drug trial results.

A European Union advisory panel recommended approval for Alexza Pharmaceuticals' (Nasdaq: ALXA) agitation treatment Adasuve.

Shares of AK Steel Holding (NYSE: AKS) and U. S. Steel (NYSE: X) rose on Fitch Ratings' expectation for steel demand to continue growing slowly in 2013.

On the downside

The Food and Drug Administration granted early approval to Ariad Pharmaceuticals' (Nasdaq: ARIA) chronic myeloid leukemia and Philadelphia chromosome positive acute lymphoblastic leukemia treatment Iclusig but the stock price dropped.
 
Jefferies analyst Peter Misek said that Apple (Nasdaq: AAPL) cut orders to component suppliers Cirrus Logic (NYSE: CRUS) and Skyworks Solutions (Nasdaq: SWKS).

Schlumberger (NYSE: SLB) warned that a slowdown in drilling will negatively impact its fourth quarter earnings.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by 10 to 9 on Nasdaq. The broader S&P 500 index slipped 2 points to 1416.

The markets opened mixed with the Dow adding 3 points to 13,174 while Nasdaq lost 15 points to 2976 as the nation's factory output rose 1.1% in November due to a rebound from Superstorm Sandy.

On the upside

Alcatel-Lucent (NYSE: ALU) announced a $2.1 billion financing agreement with Credit Suisse (NYSE: CS) and Goldman Sachs (NYSE: GS).

Adobe Systems (Nasdaq: ADBE) reported higher fourth quarter earnings that beat analyst expectations.

PPG Industries (NYSE: PPG) will pay approximately $1.05 billion to acquire the North American paint unit of AkzoNobel.

On the downside

Best Buy (NYSE: BBY) extended the deadline for founder Richard Schulze to make an offer for the company to February 28, 2013.

VeriFone (NYSE: PAY) disappointed with sharply lower fourth quarter earnings and forecast current quarter results below expectations.

Cytori Therapeutics (Nasdaq: CYTX) priced its public offering of 7.02 million common shares at the discounted price of $2.85 per share.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index lost 3 points to 1415.

November retail sales edged up 0.3% while jobless claims dropped last week but the fiscal cliff impasse weighed on investors. The markets closed lower with the Dow falling 74 points to 13,170 while Nasdaq dropped 21 points to 2992.

On the upside

NII Holdings (Nasdaq: NIHD) named chairman Steven M. Shindler to the position of interim chief executive.

Delta Air Lines (NYSE: DAL) chief executive Richard Anderson said yesterday that annual profit is expected to surge to $1.6 billion.

Zagg (Nasdaq: ZAGG) announced a $10 million stock repurchase plan.

On the downside

Shares of Molycorp (NYSE: MCP) continued falling after announcing the sudden departure of chief executive Mark Smith yesterday.

Basic Energy Services (NYSE: BAS) reported a drop in November rig utilization rate from 72% last year to 62% this year.

Deutsche Bank analyst Chris Whitmore downgraded Lexmark (NYSE: LXK) to a Sell rating.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 index fell 9 points to 1419.

Despite upbeat economic data, the markets turned negative during the midday with the Dow losing 59 points to 13,186 as fiscal cliff discussions continued without any signs of compromise. Nasdaq fell 22 points to 2991.

On the upside

Shares of SolarCity (Nasdaq: SCTY) soared in its market debut.

Barclays analyst Blayne Curtis upgraded RF Micro Devices (Nasdaq: RFMD) to an Overweight rating and lifted his price target from $5 to $6.

Deutsche Bank added J. C. Penney (NYSE: JCP) to its short term buy list yesterday.

On the downside

AstraZeneca (NYSE: AZN) and Rigel Pharmaceuticals (Nasdaq: RIGL) reported disappointing results from a midstage clinical trial of their rheumatoid arthritis treatment fostamatinib.

Wunderlich Securities downgraded Allot Communications (Nasdaq: ALLT) to a Hold rating and cut its price target from $27 to $21.

Restoration Hardware (NYSE: RH) reversed year ago losses to post a better than expected profit for the third quarter but the stock price dropped.

In the broad market, declining issues outpaced advancer by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index lost 8 points to 1419.

The markets opened modestly higher with the Dow rising 10 points to 13,256 as first time applications for unemployment benefits dropped more than expected. Nasdaq gained 10 points to 3024.

On the upside

Sprint (NYSE: S) will pay approximately $2.1 billion to acquired the remaining 49% stake in Clearwire (Nasdaq: CLWR) that it does not own.

The Minneapolis Star Tribune reported that Best Buy (NYSE: BBY) founder Richard Schulze was prepared to make a bid of up to $6 billion to the consumer electronics retailer.

Oncolytics Biotech (Nasdaq: ONCY) reported positive results from a Phase III clinical trial of its head and neck cancer treatment Reolysin.

On the downside

Harbinger Group (NYSE: HRG) priced its secondary offering of 20 million common shares at the discounted price of $7.50 per share.

CorEnergy Infrastructure Trust (NYSE: CORR) priced its public offering of 18.5 million common shares at the discounted price of $6 per share.

Hovnanian Enterprises (NYSE: HOV) narrowed fourth quarter losses but analysts remained concerned about the homebuilder's long term profitability.

In the broad market, declining issues outpaced advancer by a margin of nearly 10 to 9 on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 index edged up a point to 1430.

Investors heeded Fed Chairman Ben Bernanke's comments about monetary policy not being offset possible damage from the fiscal cliff.   The Dow gave up nearly 3 points to close the session at 13,245 while Nasdaq shed 8 points to finish at 3013.

On the upside

The Federal Reserve's monetary policy is expected to benefit the banking sector.  Investors snapped up shares of Citigroup (NYSE: C) and JPMorgan Chase & Co (NYSE: JPM).

Boston Beer Co. (NYSE: SAM) raised its full-year earnings outlook.

Cerner (Nasdaq: CERN) announced plans to conduct a $170 million share repurchase program.

On the downside

Endo Health (Nasdaq: ENDP) lowered its profit outlook for 2012 and 2013.   The medical device and drug company also announced plans to find a replacement for its retiring CEO.

Asset management firm Legg Mason (NYSE: LM) announced an accelerated timetable for its quarterly dividend, but remained silent about filling the CEO position.

Shareholders of Haverty Furniture Companies (NYSE: HVT) received a previously-announced special dividend payment today, but an analyst downgraded the stock.

In the broad market, declining issues outpaced advancers by a narrow margin on the NYSE and by a wider 3 to 2 margin on Nasdaq. The broader S&P 500 index gave up most of its earlier gains closing at 1428, up a fraction.

The Federal Reserve will maintain low interest rates while the nation's unemployment rate is over 6.5%. The markets advanced during the midday with the Dow gaining 74 points to 13,322 while Nasdaq rose 8 points to 3031.

On the upside

Peregrine Pharmaceuticals (Nasdaq: PPHM) regained compliance with the minimum bid price requirement for listing on Nasdaq.

Acadia Pharmaceuticals (Nasdaq: ACAD) announced a private placement equity financing to raise approximately $86.4 million.

LDK Solar (NYSE: LDK) retained the services of Citigroup to work with its creditors to obtain additional flexibility regarding its debt.

On the downside

Leerink Swann analyst Jason Gerberry downgraded Teva Pharmaceuticals (NYSE: TEVA) to a Market Perform rating.

Molycorp (NYSE: MCP) chief executive Mark Smith resigned abruptly and the rare earth minerals company named Constantine Karayannopoulos as interim president and chief executive.

NorthStar Realty Finance (NYSE: NRF) priced its public offering of 25 million common shares at the discounted price of $6.40 per share.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 index gained 10 points to 1437.

Optimism about the Federal Reserve's move to increase liquidity was tempered by negativity surrounding the daily political tug-of-war to avert the fiscal cliff.   The Dow rose 23 points to 13,272 while Nasdaq added 2 points to 3025.

On the upside

Costco Wholesale (Nasdaq: COST) posted 1st quarter earnings and revenues that beat estimates, but early gains in the stock were quickly erased by profit takers.

Gilead Sciences (Nasdaq: GILD) announced that it would acquire YM BioSciences (NYSE: YMI), a developer of a treatment for progressive, chronic bone marrow disorder, in an all-cash deal valued at approximately $500 million.

The solar sector was boosted by the Xinhua News Agency reports that the Chinese government would provide subsidies to domestic solar energy companies.   Shares of Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) promptly rose.

On the downside

Cobalt International Energy (NYSE: CIE) priced a $1.2 billion offering of 2.625% convertible senior notes due 2019.

Shares of Eli Lilly & Co. (NYSE: LLY) fell after the pharmaceutical giant announced another round of late-stage study of its experimental Alzheimer's treatment possibly delaying its commercial release until 2016.

Shares of Incyte (Nasdaq: INCY) took a hit as investors worried that Gilead Sciences' purchase of YM BioSciences may pose a serious competitive risk.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 index added 3 points to 1431.

Fed Stimulus Hopes Boost Markets

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Hope for additional stimulus measures by the Federal Reserve lifted the markets to a higher close with the Dow gaining 78 points to 13,248. Nasdaq surged 35 points to 3022.

On the upside

Reports circulated that Sprint (NYSE: S) engaged in discussions to acquire Clearwire (Nasdaq: CLWR).

A Seeking Alpha contributor sees upside potential to Molycorp (NYSE: MCP) in the near term.

Delta Air Lines (NYSE: DAL) paid approximately $360 million to acquire a 49% stake in Virgin Atlantic.

On the downside

J. P. Morgan downgraded Family Dollar Stores (NYSE: FDO) to a Neutral rating.

Craig Hallum and Needham initiated coverage of Ruckus Wireless (NYSE: RKUS) with Buy ratings but the stock price dropped.

Profit taking sank shares of CombiMatrix (Nasdaq: CBMX).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index added 9 points to 1427.

A Bloomberg survey of economists signaled the possibility of $45 billion in monthly Treasury purchases by the Federal Reserve to bolster the mortgage bond market.  The Dow surged 116 points to 13,286 while Nasdaq soared 41 points to 3028.

On the upside

Shares of Apple (Nasdaq: AAPL) reversed recent losses as bargain hunters snapped up the stock and helped boost the tech sector.

The U.S. government announced plans to sell its remaining shares of insurer American International Group (NYSE: AIG), recipient of bailout funds.

Shares of Acura Pharmaceuticals (Nasdaq: ACUR) continued to rally for a second day after it launched cold medicine that cannot be converted to illegal methamphetamine. 

On the downside

SunCoke Energy (NYSE: SXC) offered 2013 guidance that projected a drop in the price of coal.  

Shares of SPX Corporation (NYSE: SPW) fell on word that the company may be looking to buy rival machinery maker Gardner Denver (NYSE: GDI).

Shares of Main Street Capital (NYSE: MAIN) promptly fell after the investment firm announced a public offering of 2.5 million shares at $28 each.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index gained 13 points to 1432.

The markets opened sharply higher with the Dow climbing 91 points to 13,260 on expectations that the Federal Reserve will purchase $45 billion worth of Treasuries. Nasdaq soared 33 points to 3020.

On the upside

Siris Capital Group will take TNS (NYSE: TNS) private in a deal valued at approximately $862 million.

Oppenheimer analyst Brian Nagel wrote that J.C. Penney's (NYSE: JCP) new pricing strategy will be successful.

BG Medicine (Nasdaq: BGMD) received the CE Mark allowing it to sell its CardioSCORE cardiovascular blood tests in the European Union.

On the downside

Hertz Global Holdings (NYSE: HTZ) announced a secondary offering of 50 million common shares at the discounted price of $15.80 per share.

HCA Holdings (NYSE: HCA) announced a secondary offering of 32 million common shares.

Dollar General (NYSE: DG) reported higher third quarter earnings that topped analyst estimates but the discount retailer maintained a cautious stance for the rest of the year.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 6 points to 832.

The markets closed modestly higher with the Dow adding 14 points to 13,169 as investors continued to monitor fiscal cliff developments. Nasdaq rose 8 points to 2986.

On the upside

Acura Pharmaceuticals (Nasdaq: ACUR) launched a version of its decongestant that is harder to turn into methamphetamine.

UniPixel (Nasdaq: UNXL) stock continued rising after announcing on Friday a multi-million dollar deal to license its UniBoss Performance Engineered Film technology for notebooks.

Infinity Pharmaceuticals (Nasdaq: INFI) reported positive interim data from a Phase 1 clinical trial of its hematologic malignancy treatment IPI-145.

On the downside

A Seeking Alpha contributor questioned the results of Acadia Pharmaceuticals' (Nasdaq: ACAD) Phase III trial of pimavanserin.

Jefferies analyst Luke Folta downgraded GrafTech International (NYSE: GTI) to a Hold rating and cut his price target from $9 to $6.

Oclaro (Nasdaq: OCLR) commenced a private offering of $25 million in exchangeable senior notes.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 826.

Investors remained wary about the fiscal cliff as well as euro zone debt.  The markets extended modest gains as the Dow rose 28 points to 13,183. Nasdaq gained 16 points to 2994.

On the upside

McDonald's (NYSE:MCD) same-store sales in November rose 2.4% reversing October's decline, the first in 9 years.

Shares of Celldex Therapeutics (Nasdaq: CLDX) surged after the company announced positive results for its breast cancer treatment.

Shares of UniPixel (Nasdaq: UNXL) extended Friday's again after the touchscreen equipment company announced a major deal with an undisclosed PC maker.

On the downside

American International Group (NYSE: AIG) said losses related to superstore Sandy will total $1.3 billion.

Shares of Diamond Foods (Nasdaq: DMND) fell after the snack maker posted a 4th quarter that beat expectations.  However, an ongoing accounting probe weighed on the stock.

Shares of clothing retailer Gap (NYSE: GPS) continued to erode.  The operator of Old Navy and Banana Republic stores recently reported a 3% increase in same-store November sales which missed estimates.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on both the NYSE and Nasdaq. The S&P 500 added 2 points to 1420.

The markets opened modestly higher with the Dow rising 23 points to 13,178 after President Barack Obama and House Speaker John Boehner met yesterday to discuss the fiscal cliff. Nasdaq gained 9 points to 2987.

On the upside

Canadian regulators approved CNOOC's $15.1 billion offer to acquire Nexen (NYSE: NXY).

Honeywell (NYSE: HON) will pay a premium of approximately $603.4 million in cash to purchase Intermec (NYSE: IN).

Geron (Nasdaq: GERN) reported upbeat results from a Phase 2 clinical trial of its essential thrombocythemia treatment imetelstat.

On the downside

A Food and Drug Administration panel recommended that the regulatory agency not approve Zogenix's (NYSE: NXY) moderate to severe pain treatment Zohydro.

Oppenheimer suggested that investors take a cautious approach to Nokia (NYSE: NOK).

Investors locked in profits on Groupon (Nasdaq: GRPN), whose stock price soared last week on rumors that Google (Nasdaq: GOOG) was interested in acquiring the company.

In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 824.

The markets closed mixed with the Dow climbing 81 points to 13,155 despite a drop in the nation's unemployment rate as consumer sentiment dropped. Nasdaq lost 11 points to 2978.

On the upside

Fitch Ratings affirmed its ratings on Hovnanian Enterprises (Nasdaq: GRPN).

Two studies published in the New England Journal of Medicine reported that CombiMatrix's (Nasdaq: CBMX) chromosomal microarray analysis performed better than traditional karyotyping for genetic prenatal diagnosis.

Good Times Restaurant (Nasdaq: GTIM) reported that same store sales climbed 6.8% in November.

On the downside

The Canadian government approved CNOOC's $15 billion acquisition of Nexen (NYSE: NXY).

QR Energy (NYSE: QRE) priced its public offering of 12 million common units at the discounted price of $16.24 per unit.

Sarepta Therapeutics (Nasdaq: SRPT) reported upbeat results from its Duchenne muscular dystrophy treatment eteplirsen but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction 822.

The markets traded mixed during the midday with the Dow climbing 58 points to 13,132 as investors questioned the drop in the nation's unemployment rate to a four year low of 7.7%. Nasdaq fell 11 points to 2977.

On the upside

Groupon (Nasdaq: GRPN) chief executive Andrew Mason admitted the possibility that the board might have discussed firing him due to the sharp 80% plunge in share price this year.

A Seeking Alpha contributor suggested that Avon (NYSE: AVP) may be interested in buying skin care products company Obagi Medical Products (Nasdaq: OMPI).

SandRidge Energy (NYSE: SD) continued climbing after shareholder TPG-Axon Capital proposed changes to the company's board through a website.

On the downside

Webster Financial (NYSE: WBS) announced a secondary offering of 10 million shares of company stock at the discounted price of $20.10 per share.

The U. S. Attorney and the Securities and Exchange Commission launched investigations into the sale of $10 million worth of Big Lots (NYSE: BIG) stock by company chief executive Steven Fishman a month before the closeout retailer reported an unexpected quarterly loss.

Ritchie Bros. (NYSE: RBA) sold more than $73 million worth of industrial equipment through two auctions in Canada this week but the stock price dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 821.

The nation's household wealth rose to a five year high to lift the markets to a higher close with the Dow gaining 39 points to 13,074. Nasdaq climbed 15 points to 2989.

On the upside

Genworth (NYSE: GNW) named former Freddie Mac chief executive David M. Moffett to its board.

Sandridge Energy (NYSE: SD) shareholder TPG-Axon Capital launched a website detailing the reasons for its efforts to replace the board.

H&R Block (NYSE: HRB) narrowed second quarter losses more than expected as revenue climbed.

On the downside

Francesca's Holdings (Nasdaq: FRAN) reported higher third quarter earnings and revenue but the women's apparel retailer forecast disappointing current quarter earnings.

Chelsea Therapeutics (Nasdaq: CHTP) extended its losses from yesterday after reporting mixed results from a late stage clinical trial of Northera.

Investors locked in profits on Thompson Creek Metals (NYSE: TC), whose stock price climbed yesterday on expectations of increased copper demand.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 821.

Markets Advance On Fiscal Cliff Hopes

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The markets turned positive during the midday with the Dow rising 6 points to 13,040 as Republicans indicated that they may be willing to raise taxes on high income earners. Nasdaq gained 11 points to 2985.

On the upside

TD Bank Group will pay a premium of approximately $668 million in cash to acquire Epoch Holding (Nasdaq: EPHC).

MGM Resorts (NYSE: MGM) will finance its debt with $4 billion in loans and will raise $1 billion through the sale of senior unsecured notes.

Rumors swirled that Walter Energy (NYSE: WLT) may be acquired.

On the downside

Third quarter earnings and revenue rose for Vera Bradley (Nasdaq: VRA) but the accessories maker forecast current quarter results below expectations.

Investors locked in profits on Peregrine Pharmaceuticals (Nasdaq: PPHM) whose stock price climbed yesterday after regulators approved the late stage trial design for its brain cancer treatment Cotara.

Emulex (NYSE: ELX) will offer a premium of approximately $130 million in cash to acquire Endace.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 820.

Lower Open Over Fiscal Cliff

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The markets opened lower with the Dow slipping 15 points to 13,019 despite a drop in first time applications for unemployment benefits as investors continued to monitor fiscal cliff developments. Nasdaq eased 2 points to 2971.

On the upside

Zynga (Nasdaq: ZNGA) applied with the Nevada Gaming Control Board to offer Real Money Games.

Lululemon Athletica (Nasdaq: LULU) reported higher third quarter earnings and revenue that topped analyst expectations.

Akamai Technologies (Nasdaq: AKAM) partnered with AT&T (NYSE: T) to offer content delivery network services.

On the downside

Shares of Freeport-McMoRan Copper & Gold (NYSE: FCX) continued falling after announcing yesterday plans to acquire McMorRan Exploration (NYSE: MMR) and Plains Exploration (NYSE: PXP) for approximately $9 billion.

Lifevantage (Nasdaq: LFVN) voluntarily recalled and replaced certain lots of its dietary supplement Protandim.

Men's Wearhouse (NYSE: MW) reported higher third quarter earnings but the results fell short of expectations and the men's clothing retailer cut its current quarter and full year guidance.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 818.

Mixed Close Over Economic Data

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The markets closed mixed with the Dow climbing 82 points to 13,034 as disappointing job creations numbers tempered enthusiasm for an unexpected gain in factory orders. Nasdaq dropped 22 points to 2973.

On the upside

Bank of America (NYSE: BAC) will simplify the mortgage application process due to increased demand.

Shares of Alpha Natural Resources (NYSE: ANR) and Arch Coal (NYSE: ACI) soared on expectations of greater coal consumption in China and India.

Cobalt International Energy (NYSE: CIE) announced the discovery of oil at its North Platte prospect in the Gulf of Mexico.

On the downside

Wells Fargo warned that New Oriental Education & Technology Group (NYSE: EDU) was in danger of being delisted.

Shares of Select Comfort (Nasdaq: SCSS) fell after rival Mattress Firm Holding (Nasdaq: MFRM) cut its guidance for the full year.

Profit taking continued to sink shares of Qihoo 360 Technology (NYSE: QIHU), whose stock price rose on Monday after the Wall Street Journal profiled company founder Zhou Hongyi over the weekend.

In the broad market, advancing issues edged out decliners by a margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 820.

A surprise 0.8% gain in October factory orders lifted the blue chip index during the midday with the Dow leaping 114 points to 13,066. Nasdaq fell 13 points to 2983.

On the upside

Net 1 UEPS Technologies (Nasdaq: UEPS) clarified that the Department of Justice investigation appeared to be related to legal proceedings that competitor AllPay Consolidated Investment Holdings filed against the company after losing a contract to Net 1.

SED International will distribute OCZ Technology's (Nasdaq: OCZ) solid-state drives in Latin America and the Caribbean.

Citigroup (NYSE: C) will cut expenses by eliminating 11,000 jobs.

On the downside

Chelsea Therapeutics (Nasdaq: CHTP) reported disappointing results from a late stage clinical trial of Northera to treat dizziness and lightheadedness in Parkinson's disease patients.

Recovery Energy (Nasdaq: RECV) officially signed a separation agreement with former chairman and chief executive Roger A. Parker, who retired on November 15, 2012.

The New York Department of Financial Services ordered Ocwen Financial (NYSE: OCN) to hire a monitor to ensure that the company followed new state mortgage servicing requirements.

In the broad market, advancing issues edged out decliners by a margin of nearly 5 to 4 on the NYSE while decliners outpaced advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 822.

Markets Mixed Over Data

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Productivity climbed more than expected in the third quarter while November job creations fell short of expectations. The markets opened mixed with the Dow rising 37 points to 12,989 while Nasdaq fell 19 points to 2977.

On the upside

Freeport-McMoRan Copper & Gold (NYSE: FCX) will pay approximately $14.75 in cash to acquire McMoRan Exploration (NYSE: MMR) and $50 in cash and stock to buy Plains Exploration (NYSE: PXP).

Nokia (NYSE: NOK) partnered with China Mobile to introduce its Lumia 920T in China and announced the January launch of the Lumia 620 in Asia.

Peregrine Pharmaceuticals (Nasdaq: PPHM) reached an agreement with the Food and Drug Administration for the design of a Phase III trial of its brain cancer treatment Cotara.

On the downside

Mattress Firm Holding (Nasdaq: MFRM) reported better than expected third quarter earnings and revenue but the company forecast current quarter results below estimates and lowered its full year outlook.

Tibco Software (Nasdaq: TIBX) warned that fourth quarter and full year results will miss analyst expectations.

Third quarter earnings and revenue topped analyst estimates for Pandora Media (NYSE: P) but the online radio service warned of losses for the fourth quarter.

In the broad market, advancing issues edged out decliners by a margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 820.

Continued uncertainty over a fiscal cliff deal weighed the markets down to a lower close with the Dow losing 13 points to 12,951. Nasdaq slipped 5 points to 2996.

On the upside

Netflix (Nasdaq: NFLX) signed an exclusive, multiyear agreement to stream Disney (NYSE: DIS) movies approximately seven months after their theatrical run.

Nokia (NYSE: NOK) will sell its headquarters in Finland for approximately $220 million. Also, Bloomberg reported that the mobile device maker was close to finalizing a deal to sell its Lumia 920 in China.

Hewlett-Packard (NYSE: HPQ) named Mike Nefkens to the position of executive vice president of HP Enterprise Services.

On the downside

Trefis lowered its price target on Groupon (Nasdaq: GRPN) to $4.

Investors locked in profits on New Oriental Education & Technology (NYSE: EDU), whose stock price climbed last week after Muddy Waters stopped shorting the company.

The Wall Street Journal reported that Cerberus Capital Management may no longer be interested in acquiring Best Buy (NYSE: BBY).

In the broad market, declining issues edged out advancers by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 822.

Markets Languish Over Fiscal Cliff

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The markets traded flat during the midday with the Dow adding 7 points to 12,973 as lawmakers continued to wrestle with opposing proposals to avert the fiscal cliff. Nasdaq lost 7 points to 2994.

On the upside

A Seeking Alpha contributor listed five reasons yesterday for acquiring shares of OCZ Technology (Nasdaq: OCZ).

Edwards Lifesciences (NYSE: EW) affirmed its 2012 earnings and revenue outlook and forecast 2013 earnings ahead of estimates.

Cyclacel Pharmaceuticals (Nasdaq: CYCC) will present updated Phase 3 trial data for its acute myeloid leukemia treatment at the 54th Annual Meeting of the American Society of Hematology on Sunday, December 9, 2012.

On the downside

The Department of Justice launched an investigation into Net 1 UEPS Technologies (Nasdaq: UEPS) for possible violations of the Foreign Corrupt Practices Act.

Nomura took a cautious stance on holiday sales at Gap (NYSE: GPS).

Peregrine Pharmaceuticals (Nasdaq: PPHM) chief executive Steven King was nominated for TheStreet's Worst Biotech CEO of 2012.

In the broad market, advancing issues edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 821.

The markets opened mixed with the Dow rising 41 points to 13,006 while Nasdaq slipped 4 points to 2997 as lawmakers deadlocked on proposals to avert the fiscal cliff.

On the upside

Galena Biopharma (Nasdaq: GALE) signed an agreement with Teva Pharmaceuticals to commercialize the breast cancer treatment NeuVax in Israel.

Big Lots (NYSE: BIG) fell to a loss for the third quarter but the results were better than expected and the discount retailer lifted its full year outlook.

Telefonica selected Alcatel-Lucent's (NYSE: ALU) 7950 XRS core router to upgrade its Internet protocol networks in Argentina and the Czech Republic.

On the downside

Reuters reported that Sprint (NYSE: S) would probably not make a counteroffer to acquire MetroPCS (NYSE: PCS).

Geron (Nasdaq: GERN) ended development of its brain cancer treatment GRN1005 and will eliminate 43 jobs.

Darden Restaurants (NYSE: DRI) forecast current quarter earnings well below analyst expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 820.

Stalled Talks Weigh Down Markets

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Stalled fiscal cliff negotiations weighed the markets down to a lower close with the Dow falling 59 points to 12,965. Nasdaq lost 8 points to 3002.

On the upside

Cleantech Solutions International (Nasdaq: CLNT) chairman and chief executive Jianhua Wu will acquire 157,966 shares of common stock in the company.

The Wall Street Journal profiled Qihoo 360 Technologies (NYSE: QIHU) founder Zhou Hongyi.

Williams Financial Group analyst Cody Acree said that Advanced Micro Devices' (NYSE: AMD) largest shareholder Mubadala Development would most likely extend a loan to the company if necessary.

On the downside

Zynga (Nasdaq: ZNGA) vice president Roy Sehgal and general manager Steve Schreck have left the online social gaming company.

SunCoke Energy (NYSE: SXE) postponed the initial public offering of a limited partnership.

Canaccord Genuity analyst Michael Graham downgraded Bankrate (NYSE: RATE) to a Hold rating and lowered his price target from $16 to $14.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 820.

Negotiations to avert the fiscal cliff appeared to falter. The markets traded mixed during the midday with the Dow losing 12 points to 13,013. Nasdaq added 4 points to 3015.

On the upside

MGIC Investment (NYSE: MTG) satisfied conditions to continue selling mortgage insurance.

A Seeking Alpha contributor wrote on Friday that OCZ Technology (Nasdaq: OCZ) had the potential to surge 200% next year.

Continental Resources (NYSE: CLR) reported that the Charlotte 3-22H well in the Bakken field contained 57% more oil than previously estimated.

On the downside

Shares of BioCryst Pharmaceuticals (Nasdaq: BCRX) continued falling after terminating plans to merge with Presidio Pharmaceuticals on Friday.

Goldman Sachs downgraded Emulex (NYSE: ELX) to a Sell rating.

Investors locked in profits on QLogic (Nasdaq: QLGC) whose stock price climbed last week after presenting at the Credit Suisse Technology Conference.

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 821.

The markets opened mixed with the Dow slipping 9 points to 13,015 while Nasdaq gained 7 points to 3017 as November manufacturing activity fell to 49.5.

On the upside

Goldman Sachs upgraded Dell (Nasdaq: DELL) to a Buy rating and raised its price target from $9 to $13.

Sterne Agee upgraded Deckers Outdoor (Nasdaq: DECK) to a Buy rating and set a price target of $65.

The Wall Street Journal reported that Cerberus Capital Management will consider several options in a possible acquisition of Supervalu (NYSE: SVU).

On the downside

McMoRan Exploration (NYSE: MMR) reported limited success in its efforts to increase flow rate at its Davy Jones No. 1 well.

A Seeking Alpha contributor cautioned against buying shares of Peregrine Pharmaceuticals (Nasdaq: PPHM) whose stock price climbed last week on no apparent news.

Newsmagazine 60 Minutes reported allegations by doctors that Health Management Associates (NYSE: HMA) admitted patients regardless of medical necessity.

In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 822.

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