Flat Open As Retail Sales Disappoint
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.
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