Market Overview

End-of-Day Market Summary for December 9, 2011

This is your Benzinga news summary for Friday, December 9, 2011, covering headlines from Friday's daytime trading session.

Today at market close, the Dow Jones Index traded up about 186.56 points or 1.55%, the S&P 500 traded 1.69% higher, the Nasdaq Composite Index traded up 1.94%, and the U.S. dollar trades slightly lower near the $78.70 level.

Earlier today, Oxen Group upgraded KB home (NYSE: KBH) to Hold and Nomura upgraded toyota (NYSE: ™) to Buy. View all of today's upgrades here.

Citigroup downgraded DuPont (NYSE: DD) to Neutral and Stifel Nicolaus downgraded T Rowe Price (NASDAQ: TROW) to Hold. View all of today's downgrades here.

Overseas, European markets ended their trading session higher. Britain's FTSE 100 gained 0.83%, Germany's DAX increased by 1.91% and France's CAC 40 rallied by 2.48% on the session. Asian stocks ended their session lower too. China's Shanghai Index slid by 0.62%, Japan's Nikkei 225 decreased by 1.48%, and the Hang Seng index lost 2.73%.

On the economic calendar, the Trade Balance came in at -$43.5B versus an estimate of -$43.9B; Consumer Confidence came in at 67.7 versus an estimate of 65.8. On the commodity front, gold and silver futures traded mixed today, with gold trading about 0.1% lower today. Energy futures are mixed, however, with crude oil up over 1.3% near the $99.70 level and gasoline futures are trading higher by about 1.7%. Natural Gas futures are lower by about 3.5% and copper futures are trading over 0.3% higher.

In corporate news, General Electric (NYSE: GE) announced that it will increase its dividend from $0.02 to $0.17.

Blue Coat Systems (NASDAQ: BCSI) announced that private equity firm Thoma Bravo offered $1.3 billion for the company.

Team Health Holdings (NYSE: TMH) announced that it increased its revolving credit line to $225 million.

Today's Movers include:

Diamond Foods (NASDAQ: DMND) +48.3% after eased up federal investigations

Blue Coat Systems Inc (NASDAQ: BCSI) +44% after private equity offered to take over for $1.3 billion

The Cooper Companies (NYSE: COO) +16.7% after positive earnings

Pharmacyclics (NASDAQ: PCYC) -15.3% despite collaborating with Johnson and Johnson

OYO Geospace Corp (NASDAQ: OYOG) -7.9% on poor earnings

Xueda Education Group (NYSE: XUE) -8.3% on heavy volume

This concludes your news summary for December 9, 2011.

Posted-In: News Broad U.S. Equity ETFs Upgrades Downgrades Events Global Econ #s Economics Best of Benzinga

 

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