Market Overview

End-of-Day Market Summary for December 23, 2011

This is your Benzinga news summary for Friday, December 23, 2011, covering headlines from Friday's daytime trading session.

Today at market close, the Dow Jones Index traded up about 124.40 points or 1.02%, the S&P 500 traded 0.9% higher, the Nasdaq Composite Index traded up 0.74%, and the U.S. dollar trades slightly higher near the $80.35 level.

Earlier today, Barrington Research upgraded Volcano (NASDAQ: VOLC) to Outperform and Susquehanna upgraded Talsiman Energy (NYSE: TLM) to Positive. View all of today's upgrades here.

Stifel Nicolaus downgraded City Holding Company (NASDAQ: CHCO) to Hold and DA Davidson downgraded Magma Design Automation (NASDAQ: LAVA) to Neutral. View all of today's downgrades here.

Overseas, European markets ended their trading session higher. Britain's FTSE 100 gained 1.02%, Germany's DAX increased by 0.46% and France's CAC 40 rallied by 0.99% on the session. Asian stocks ended their session mixed. China's Shanghai Index rallied by 0.85%, Japan's Nikkei 225 decreased by 0.77%, and the Hang Seng index gained 1.37%.

On the economic calendar, Durable Goods Orders came in at 3.8% versus an estimate of 2.2%, Personal Income came in at a0.1% versus an estimate of 0.2%, Personal Spending came in at 0.1% versus an estimate of 0.3%, and New Home Sales came in at 315K, in line with estiates. On the commodity front, gold and silver futures traded mixed today, with gold trading about 0.1% higher today. Energy futures are mixed, with crude oil up over 0.3% near the $99.80 level and gasoline futures are trading higher by about 2%. Natural Gas futures are lower by about 2% and copper futures are trading over 0.2% lower.

There were no earnings announcements today.

In corporate news, Akorn (NASDAQ: AKRX) was found to have received negative comments from the FDA regarding a new drug.

Perfumania Holdings (NASDAQ: PERF) announced that it will acquire Parlux Fragrances (NASDAQ: PARL) for $170 million.

ON Semiconductor (NASDAQ: ONNN) announced that it will be entering a $325 million revolving credit facility.

Today's Movers include:

This concludes your news summary for December 23, 2011.

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

 

Related Articles (AKRX + CHCO)

Around the Web, We're Loving...

Get Benzinga's Newsletters