November 16, 2012 at 10:33 AM EST
Lower Open As Fiscal Cliff Talks Begin
The markets opened lower with the Dow losing 26 points to 12,516 as fiscal cliff discussions begin today. Nasdaq fell 9 points to 2827.
On the upside
OfficeMax (NYSE: OMX) announced Black Friday deals beginning online on Thanksgiving morning and at stores on Black Friday.
Swisher Hygiene (Nasdaq: SWSH) sold its Choice Environmental Services subsidiary to Waste Services of Florida for approximately $123.3 million in cash. On the downside
A Food and Drug Administration advisory panel said that Dynavax Technologies (Nasdaq: DVAX) has failed to demonstrate that its hepatitis B vaccine Heplisav was safe.
Sina (Nasdaq: SINA) reversed year ago losses for the third quarter but the company forecast current quarter revenue well below expectations.
Sears Holding (Nasdaq: SHLD) widened third quarter losses as revenue dropped.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 764.
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