Flat Close As Fiscal Cliff Concerns Persist
The markets closed flat with the Dow adding 4 points to 12,815 as concerns about the fiscal cliff persisted. Nasdaq rose 9 points to 2904.
On the upside
Cowen upgraded Isis Pharmaceuticals (Nasdaq: ISIS) to an Outperform rating from Neutral.
Energizer Holdings (NYSE: ENR) reported sharply higher fourth quarter earnings and announced restructuring plans that include the elimination of approximately 1,500 positions.
DG (Nasdaq: DGIT) widened third quarter losses due to a significant goodwill impairment charge but revenue rose. On the downside
Roundy's (NYSE: RNDY) blamed the struggling economy for sharply lower third quarter earnings.
Prospect Global Resources (NYSE: PGRX) priced its public offering of 15 million common shares at the discounted price of $1.75 per share.
Array BioPharma (Nasdaq: ARRY) priced its public offering of 18 million common shares at the discounted price of $3.65 per share.
In the broad market, declining issues barely edged out advancers by a slim margin of nearly 10 to 9 the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a point to 795.
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