Flat Close Over Economic Concerns
Global economic concerns weighed the markets down to a flat close the Dow holding steady at 12,815. Nasdaq held steady at 2904.
On the upside
China Digital TV (NYSE: STV) declared a special cash dividend of $2.30 per share payable in two installments on December 3, 2012 and February 4, 2013 to shareholders of record November 26, 2012.
Sherwin-Williams (NYSE: SHW) will pay approximately $2.34 billion in cash to acquire privately held Consorcio Comex. On the downside
Jefferies downgraded Nektar Therapeutics (Nasdaq: NKTR) to a Hold rating.
Gilead's (Nasdaq: GILD) upbeat trial results for its hepatitis C treatment weighed down share of Achillion (Nasdaq: ACHN), which is developing its own hepatitis C drug.
Morgan Stanley downgraded Inteliquent (NYSE: IQNT) to an Underweight rating.
In the broad market, declining issues outpaced advancers by a margin of more than 19 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 793.
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