Stocks closed mixed Friday. The S&P 500 finished slightly
higher, reversing some late day downside volatility seen after a
lunch-time rally carried the broad market gauge within a few points
of breaking even for the session.
The Dow Jones Industrial Average was higher throughout the
session, however, supported by Microsoft (
), Intel (
) and IBM (
) working to offset declines for General Electric Co. (
) and American Express (
) after the latter two companies failed to meet expectations with
December quarter revenues.
In a light day for economic news, sales of previously owned U.S.
homes climbed for a third month during December to an annualized
rate of 4.61 million homes, its highest level in 11 months. Still,
the pace trailed the consensus call of experts polled by Bloomberg
News by roughly 50,000 homes. The number of unsold homes also fell
to its lowest point since 2007, the National Association of
Realtors said today.
In other company news, Talbots Inc. (TLB) rose sharply Friday
after saying it turned down a takeover offer from private-equity
firm Sycamore Partners, according to The Wall Street Journal.
Sycamore was offering about $212.1 million, or $3 a share, which
TLB rejected as inadequate and said substantially undervalued the
Commodity futures were mixed with February gold rising about
0.5% to settle at $1,663 per ounce; crude finished its February
contract on Friday, settling at $98.20 a barrel, down $1.93.
Here's where markets stood at end-of-day:
-DJIA up 96.50 (+0.76%) to 12,720.48
-S&P 500 up 0.88 (+0.07%) to 1,315.28
-Nasdaq down 1.63 (-0.06%) to 2786.70
Nikkei up 1.47%.
Hang Seng up 0.84%.
Shanghai Composite up 1.00%.
FTSE-100 down 0.17%.
(+) CTIC, Expects EU regulators to issue opinion by mid-February
on its drug candidate for non-Hodgkin's B cell lymphomas.
(+) MERC, Raises yearly production goal for German paper mill to
675,000 metric tons, up 30,000 tons
(-) ANF Janney analyst says aggressive markdowns may hurt
(-) ACHN Investment website raises questions about company's
hepatitis C drug.
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