Modest Uptick In Holiday Spending Lifts Markets

A modest uptick in holiday spending lifted the markets during the midday with the Dow adding 12 points to 10,532. Nasdaq rose 4 points to 2290.

On the upside

Compugen (Nasdaq: CGEN) discovered a new drug target, CGEN-671, to treat multiple epithelial tumors.

Sunrise Senior Living (NYSE: SRZ) amended loan agreements with Chevy Chase Bank, agreeing to lower interest rates and an extension of the maturity date on two loans.

Barron's spotlighted 3PAR (NYSE: PAR) as an attractive acquisition target.

On the downside

Citibank (NYSE: C) notified Zale (NYSE: ZLC) that its Merchant Services Agreement will not be renewed.

Shares of American Airlines parent AMR (NYSE: AMR), Delta Air Lines (NYSE: DAL), and United Air Lines parent UAL (NYSE: UAUA) fell over concerns that new security measures introduced at airports after a failed attempt to blow up an airplane will curtail air travel.

Motley Fool said that Synaptics (Nasdaq: SYNA) was a better buy than SanDisk (Nasdaq: SNDK).

In the broad market, advancing issues edged out decliners by a margin of nearly 5 to 4 on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 634.

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