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

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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
VOLC
to Outperform and Susquehanna upgraded Talsiman Energy
TLM
to Positive. View all of
today's upgrades here
. Stifel Nicolaus downgraded City Holding Company
CHCO
to Hold and DA Davidson downgraded Magma Design Automation
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
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copper
futures are trading over 0.2% lower. There were no earnings announcements today. In corporate news, Akorn
AKRX
was found to have received
negative comments from the FDA regarding a new drug
. Perfumania Holdings
PERF
announced that
it will acquire Parlux FragrancesPARL
for $170 million. ON Semiconductor
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.
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