The markets traded modestly higher during the midday with the Dow rising 22 points to 13,413 as the nation's unemployment rate held steady. Nasdaq added 4 points to 3104.
On the upside
Stifel Nicolaus upgraded Acme Packet (Nasdaq: APKT) to a Buy rating.
Five Star Equities noted that the Food and Drug Administration approved more new drugs in 2012 compared with 2011 and issued a research report on Peregrine Pharmaceuticals (Nasdaq: PPHM).
Harvest Natural Resources (NYSE: HNR) discovered oil at its Dussafu Tortue Marin-1 oil well off the coast of Gabon, West Africa.
On the downside
Silicon Image (Nasdaq: SIMG) lowered its revenue guidance for the fourth quarter. Coinstar (Nasdaq: CSTR) announced the retirement of chief executive Paul Davis effective March 31 and will be replaced by chief financial officer J. Scott Di Valerio.
Barnes & Noble (NYSE: BKS) disappointed with a sharp 11% drop in holiday sales with its Nook business sales tumbling 13%.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index gained 4 points to 1463.
Unemployment Rate Holds Steady, Markets Advance
January 04, 2013 at 12:19 PM EST
