Markets Languish Over Fiscal Cliff
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.
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