Jobs Data Meets Expectations, Markets Open Flat
The markets opened flat with the Dow holding steady at 13,391 as employers added 155,000 jobs in December. Nasdaq slipped 5 points to 3094.
On the upside
Credit Suisse upgraded Alcatel-Lucent (NYSE: ALU) yesterday from an Underperform rating to Neutral.
Amicus Therapeutics (Nasdaq: FOLD) reported positive results from a Phase 2 study of its Pompe disease treatment AT2220.
Goldman Sachs upgraded Quiksilver (NYSE: ZQK) to a Buy rating.
On the downside
Accuray (Nasdaq: ARAY) reported lower preliminary revenue for the second quarter that fell short of expectations, warned of losses for the second quarter and forecast full year results below analyst estimates. Credit Suisse analyst Christian Buss downgraded Lululemon Athletica (Nasdaq: LULU) to a Neutral rating.
Bill Barrett (NYSE: BBG) expects capital expenditures in 2013 to be between $475 million to $525 million.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index edged up a point to 1461.
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