The markets closed mixed despite a gain in factory orders as oil inventories declined. The Dow gained 13 points to 13,057 while Nasdaq dropped 7 point to 2603.
On the upside
Hoku Scientific (Nasdaq: HOKU) hired Idaho Power to build a polysilicon plant in Pocatello, Idaho.
The fraud investigation of WellCare Health Plans (NYSE: WCG) appears to be limited to the Floriday Medicaid business.
Enterra Energy Trust (NYSE: ENT) will sell Canadian oil and gas properties to three parties for approximately $40.9 million.
On the downside
Wedbush Morgan Securities analyst Jeff Mintz expects Volcom (Nasdaq: VLCM) to experience a challenging retail market in the first half of 2008.
To clamp down on fraud, the IRS may limit tax preparers such as Jackson Hewitt (NYSE: JTX) from offering refund anticipation loans.
Media General (NYSE: MEG) retained the services of lobbying firm Dow Lohnes Government Strategies to lobby the government to weaken media ownership restrictions.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 745.