November 20, 2012 at 17:03 PM EST
Flat Close Over France's Downgrade
The markets closed flat with the Dow slipping 7 points to 12,788 despite a downgrade of France's credit rating as new home construction soared. Nasdaq edged up a point to 2916.
On the upside
The Food and Drug Administration approved HeartWare International's (Nasdaq: HTWR) battery-powered Ventricular Assist System for implanting into heart failure patients.
Dycom Industries (NYSE: DY) will pay approximately $275 million in cash to acquire Quanta Services' telecommunications subsidiaries.
On the downside
A Seeking Alpha contributor recommended selling Arch Coal (NYSE: ACI).
Trina Solar (NYSE: TSL) widened third quarter losses more than expected as revenue tumbled.
Bayer abandoned its efforts to acquire Schiff Nutrition (NYSE: SHF) after Reckitt made a higher offer for the nutritional supplement company.
In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by a margin of 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 793.
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