A surprise drop in consumer confidence weighed down the markets to a lower open with the Dow easing 2 points to 11,552. Nasdaq slipped 4 points to 2663.
On the upside
The Food and Drug Administration delayed its decision on MannKind's (Nasdaq: MNKD) inhaled insulin device sparking hope that the treatment will be approved.
China lowered exports on minerals by 11% lifting shares of rare earth metals company Molycorp (NYSE: MCP).
An outside statistician hired by Repros Therapeutics (Nasdaq: RPRX) to reanalyze data from a study of the company's secondary hypogonadism treatment Androxal reported significant improvement in patients.
On the downside
A greater than expected drop in home prices weighed down shares of Beazer Homes (NYSE: BZH).
BioSante Pharmaceuticals (Nasdaq: BPAX) announced an $18 million registered direct offering.
Tax incentives for small car purchases will end in China on January 1 weighing down shares of Ford (NYSE: F).
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 788.
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