December 13, 2012 at 12:57 PM EST
Markets Turn Negative Over Fiscal Cliff
Despite upbeat economic data, the markets turned negative during the midday with the Dow losing 59 points to 13,186 as fiscal cliff discussions continued without any signs of compromise. Nasdaq fell 22 points to 2991.
On the upside
Barclays analyst Blayne Curtis upgraded RF Micro Devices (Nasdaq: RFMD) to an Overweight rating and lifted his price target from $5 to $6.
Deutsche Bank added J. C. Penney (NYSE: JCP) to its short term buy list yesterday.
On the downside
AstraZeneca (NYSE: AZN) and Rigel Pharmaceuticals (Nasdaq: RIGL) reported disappointing results from a midstage clinical trial of their rheumatoid arthritis treatment fostamatinib.
Wunderlich Securities downgraded Allot Communications (Nasdaq: ALLT) to a Hold rating and cut its price target from $27 to $21.
Restoration Hardware (NYSE: RH) reversed year ago losses to post a better than expected profit for the third quarter but the stock price dropped.
In the broad market, declining issues outpaced advancer by a margin of nearly 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index lost 8 points to 1419.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here