Quick Look Market Closing Price:
At the close: Dow +0.07% to 12303. S&P +0.13% to 1267. Nasdaq +0.21% to 2292.
Treasurys: 30-year +0.34%. 10-yr +0.11%. 5-yr +0.06%.
Commodities: Crude +1.53% to $101.39. Gold -0.85% to $1594.95.
Currencies: Euro +0.07% vs. dollar. Yen -0.13%. Pound -0.27%.
After Hours News:
AIG gains 1.5% AH after the WSJ reports a federal judge approved a $450M settlement between the company and rival insurers.
The New York Times (NYT) gains 1.7% AH after announcing it has agreed to sell its Regional Media Group, which owns 16 regional newspapers and various other publications, to privately-owned Halifax Media Holdings for $143M in cash ($150M in post-tax proceeds). The transaction is expected to close in Q1 2012.
Fuel cell developer Ballard Power (BLDP) rises 4.7% AH after announcing it has signed a letter of intent with the city of Sao Paolo, Brazil to deliver fuel cell modules for 25 city buses in 2012. The deal comes 2 weeks after Ballard inked a supply agreement with European bus manufacturer Van Hool NV
Solar panel maker Emcore (EMKR) trades down in the post-session after its Q4 EPS losses were much deeper than anticipated. Losses widened as its operations were curtailed by the flooding in Thailand during October, with the company noting the manufacturing infrastructure that supports roughly half of its fiber-optics segment revenue was heavily damaged. Shares -5.2% AH.
Medicis Pharmaceutical (MRX) guides its Q4 lower, now saying that it expects revenues to be in the range of $170M - $183M, down from its previous range of $187M - $200M and below Street estimates of $190M. The company also said that it expects a decrease in its EPS to a range of $0.51 - $0.57. The company attributes the lowered numbers to expenses related to the implementation of new strategic initiatives. Shares -3.8% AH
Cavium (CAVM) resumes trading after warning Q4 revenue will fall short of consensus. Shares -7% AH.
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