Disppointing car sales amidst high gas prices and a weak housing market sent the markets tumbling to a lower close with the Dow falling 57 points to 13,315. Nasdaq dropped 24 points to 2637.
On the upside
Thompson Creek Metals (NYSE: TC) expects to double the output from its mines over the next two year.
Invesco (NYSE: IVZ) will move from the London Stock Exchange to the New York Stock Exchange on Tuesday, December 4, 2007.
JMP Securities analyst Kevane A. Wong cited the company's recent price drop for upgrading human resources services firm Gevity (Nasdaq: GVHR).
On the downside
Lehman Brothers analyst Brian Johnson downgraded American Axle & Manufacturing (NYSE: AXL) over concerns that auto sales will fall short of expectations.
General Motors (NYSE: GM) disappointed with a sharp 11% drop in sales in November as truck sales tumbled.
In the broad market, declining issues outpaced advaners by a margin of nearly 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 760.
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