The markets opened mixed with the Dow rising 41 points to 13,006 while Nasdaq slipped 4 points to 2997 as lawmakers deadlocked on proposals to avert the fiscal cliff.
On the upside
Galena Biopharma (Nasdaq: GALE) signed an agreement with Teva Pharmaceuticals to commercialize the breast cancer treatment NeuVax in Israel.
Big Lots (NYSE: BIG) fell to a loss for the third quarter but the results were better than expected and the discount retailer lifted its full year outlook.
Telefonica selected Alcatel-Lucent's (NYSE: ALU) 7950 XRS core router to upgrade its Internet protocol networks in Argentina and the Czech Republic.
On the downside
Reuters reported that Sprint (NYSE: S) would probably not make a counteroffer to acquire MetroPCS (NYSE: PCS).
Geron (Nasdaq: GERN) ended development of its brain cancer treatment GRN1005 and will eliminate 43 jobs.
Darden Restaurants (NYSE: DRI) forecast current quarter earnings well below analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while advancers were on par with decliners on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 820.
Mixed Open Over Fiscal Cliff Deadlock
December 04, 2012 at 09:45 AM EST
