Constructive Fiscal Cliff Talks Lift Markets
Positive comments from Republican lawmakers about fiscal cliff discussions with President Barack Obama lifted the markets higher during the midday with the Dow adding 18 points to 12,560. Nasdaq rose 10 points to 2847.
On the upside
Macquarie upgraded Quicksilver Resources (NYSE: KWK) from an Underperform rating to Neutral.
Flower Foods (NYSE: FLO) declared a quarterly dividend of 16 cents per share payable on December 14, 2012 to shareholders of record November 30, 2012.
Getco acquired a 23.8% stake in Knight Capital Group (NYSE: KCG) and may consider purchasing additional shares. On the downside
Investors locked in profits on Recon Technology (Nasdaq: RCON) whose stock price soared yesterday on sharply higher first quarter revenue.
The Minneapolis/St. Paul Business Journal reported that Best Buy (NYSE: BBY) will pay new chief financial officer Sharon McCollam $4.5 million in cash and stock.
Yingi Green Energy (NYSE: YGE) warned of lower shipments in the third quarter.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks aded 3 points to 773.
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