November 21, 2012 at 09:47 AM EST
Drop In Jobless Claims Lifts Markets
A drop in first time applications for unemployment benefits lifted the markets to a modestly higher open with the Dow rising 25 points to 12,813. Nasdaq held steady at 2916.
On the upside
A Seeking Alpha contributor recommended Sarepta Therapeutics (Nasdaq: SRPT) as a biopharmaceutical catalyst trade.
Salesforce.com (NYSE: CRM) widened third quarter losses but the results were better than expected as revenue soared.
On the downside
Zale (NYSE: ZLC) reported a larger than expected loss for the first quarter.
Fourth quarter earnings for Deere & Co. (NYSE: DE) fell far short of analyst expectations.
The Food and Drug Administration reported serious lapses in the testing and manufacture of a component in St. Jude Medical's (NYSE: STJ) heart device Durata.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by a margin of nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 793.
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