Fiscal Cliff Talks Falter, Markets Mixed
December 03, 2012 at 04:15 AM EST
Negotiations to avert the fiscal cliff appeared to falter. The markets traded mixed during the midday with the Dow losing 12 points to 13,013. Nasdaq added 4 points to 3015.On the upsideMGIC Investment (NYSE: MTG) satisfied conditions to continue selling mortgage insurance.A Seeking Alpha contributor wrote on Friday that OCZ Technology (Nasdaq: OCZ) had the potential to surge 200% next year.Continental Resources (NYSE: CLR) reported that the Charlotte 3-22H well in the Bakken field contained 57% more oil than previously estimated.On the downsideShares of BioCryst Pharmaceuticals (Nasdaq: BCRX) continued falling after terminating plans to merge with Presidio Pharmaceuticals on Friday.Goldman Sachs downgraded Emulex (NYSE: ELX) to a Sell rating.Investors locked in profits on QLogic (Nasdaq: QLGC) whose stock price climbed last week after presenting at the Credit Suisse Technology Conference.In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 821.
