The News Courier in Athens, Alabama

State and Nation

November 23, 2012

Stocks soar on Black Friday; tech leads the way

(Continued)

European indexes added to earlier gains after Wall Street opened and closed higher. The FTSE 100 index of leading British shares rose 0.5 percent. Germany's DAX and France's CAC-40 both added 0.9 percent.

Investors were monitoring developments in Brussels, where European Union leaders are trying to agree on a $1.25 trillion long-term spending plan for the 27-nation bloc. Markets expect that another meeting will be needed for an agreement.

Among the stocks making big moves:

— MAP Pharmaceuticals spiked after the company announced that the Food and Drug Administration will review its experimental migraine drug Levadex. The stock rose $2.60, or 20.3 percent, to $15.42.

— KIT Digital Inc., a video software and technology company, lost two-thirds of its value after the company's former chief executive accused it of blaming prior management for its financial problems. Two days earlier, KIT said it would restate its financial results because of accounting errors. The stock lost $1.33, or 64.3 percent, to 74 cents.

Among tech's big gainers:

— Research in Motion Ltd. jumped on growing optimism for an earlier-than-expected launch of its delayed BlackBerry 10 smartphone. A senior executive from the Canadian company said earlier this month that Research In Motion, or RIM, will release the latest version of its smartphone "not long after" a Jan. 30 event. One analyst saw that as an indication that the products are to be unveiled in February. U.S.-traded shares of RIM rose $1.40, or 13.7 percent, to $11.66.

— Dell rose 49 cents, or 5.4 percent, to $9.55.

— HP added 50 cents, or 4.2 percent, to $12.44.

— AMD rose 8 cents, or 4.3 percent, to $1.95.

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