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Mixed Close Over Fear Of Further European Bailouts

It was a mixed close for the markets with the Dow losing 24 points to 11,178 over investor fears of further bailouts in Europe. Nasdaq rose 13 points to 2532.

On the upside

The Food and Drug Administration approved the final phase of clinical trials for OraSure Technologies' (Nasdaq: OSUR) over-the-counter HIV test OraQuick Rapid HIV-1/2 Antibody Test.

Tyson Foods (NYSE: TSN) reversed year ago losses to post a profit for the fourth quarter.

Teradyne (NYSE: TER) will repurchase up to $200 million worth of common stock.

On the downside

Citigroup analyst Timothy Arcuri downgraded Yingli Green Energy (NYSE: YGE) and lowered his price target on the company citing rising production costs.

Reuters reported that Bain Capital was no longer pursuing Seagate (Nasdaq: STX) as a possible acquisition target.

Pfizer (NYSE: PFE) extended its offer to acquire King Pharmaceuticals (NYSE: KG) until December 17 while the companies await antitrust approval.

In the broad market, advancing issues barely edged out decliners by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 727.

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