Stocks straddled the fence for nearly the entire day before
getting a late day boost on news that JP Morgan (
) had agreed to a $13 billion settlement for its involvement in the
mortgage-backed securities collapse of 2008. The announcement,
which came without an admission of guilt by JPM, nudged the Dow
Jones Industrials briefly back to the plus side. The Dow was
earlier underpinned by gains in Home Depot (
) as well as strength in the financial and energy sector.
Gains again evaporated just before the close, ending a five-day
winning streak for the Dow. The S&P 500 and Nasdaq also closed
in the red for the second straight day, the result of a sell-off in
Best Buy (
) and Altera Corp (
European stocks fell in reaction to a downward revision by the
Organization for Economic Cooperation and Development to 2013 and
2014 global growth. Losses accumulated throughout the day,
amplified by the sluggish tone in the U.S. and EU economic data
that might discourage the European Central Bank from any further
interest rate cuts.
Here's where the markets stand at the close:
Dow Jones Industrial Index was down 9, or 0.1%, at 15,967
S&P 500 was down 3.7, or 0.2%, at 1,787
Nasdaq Composite Index was down 17, or 0.4%, at 3,931
FTSE 100 was down 0.38%
Nikkei 225 was down 0.25%
Hang Seng Index was down 0.01%
Shanghai China Composite Index was down 0.19%
AMRN, The CEO disclosed the purchase of more than 50,777 shares
at an average price of $1.54 per share and two positive articles
helped elevate the stock price.
SPEX, Spherix's CompuFill LLC subsidiary has entered into a
settlement and license agreement with a leading technology
HZNP, Entered into note purchase agreements with investors to
issue $150 million aggregate principle and agreed to buy the U.S.
rights for Pozen Inc VIMOVO delayed-release tablets.
ONVO, Negative Seeking Alpha reporting that expected revenue
generated from 3D liver array is overstated
BBY, Despite better than expected Q3 earnings, Best Buy warned
that a more competitive environment, especially from Wal-Mart,
could hurt Q4 gross margin as the company seeks to compete on
LITB, Reported upbeat Q3 earnings, but the company expects Q4
net revenue to be between $75.0 million and $77.0 million, versus
the consensus estimate of $83.0 million
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