Lower Close As Israeli Air Strikes Continue
The markets recovered earlier losses but closed lower with the Dow slipping 28 points to 12,542 as Israeli airstrikes in Gaza continued. Nasdaq lost 9 points to 2836.
On the upside
ServiceNow (NYSE: NOW) priced its follow on public offering of 14 million common shares at the discounted price of $28.00 per share and announced an extended lock-up period of 90 days on shares that are still held by the selling stockholders.
BFC Financial will pay a premium of approximately $150 million in cash to acquire Bluegreen (NYSE: BXG).
Helmerich & Payne (NYSE: HP) reported higher fourth quarter earnings and revenue that beat analyst expectations. On the downside
DryShips (Nasdaq: DRYS) fell to a loss for the third quarter as shipping rates dropped.
Dun & Bradstreet (NYSE: DNB) will not be selling itself.
The Children's Place (Nasdaq: PLCE) reported higher third quarter earnings but the retailer disappointing current quarter results and cut its full year guidance.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 769.
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