The News Courier in Athens, Alabama

State and Nation

November 16, 2012

Stocks turn higher as fiscal talks progress

(Continued)

Mixed reports as the third quarter earnings season draws to a close have also weighed on stocks.

Dell fell 72 cents to $8.85. The computer maker is struggling as consumers switch to tablets and smartphones away from PCs. Dell said that its revenue may fall as much as 13 percent in the fourth quarter.

Superstorm Sandy depressed U.S. industrial output in October, while production of machinery and equipment declined sharply, reflecting a more cautious outlook among businesses, according to a Federal Reserve report.

The Fed says industrial output fell 0.4 percent last month, after a 0.2 percent gain in September. Excluding the storm's impact, production at the nation's factories, mines and utilities would have been up about 0.6 percent.

Among stocks making big moves:

—Schiff Nutrition International Inc., a nutritional supplement company, jumped $10.01 to $43.93 after U.K.-based Reckitt Benckiser Group offered to pay $42 a share in cash to buy the company.

— Ruckus Wireless Inc., a maker of wireless networking equipment, dropped $1.14 to $13.89 on its first day of trading. That's a decline of 8 percent.

— Sears fell $10.40 to $47.73 after the company said sales at both its Kmart and Sears stores continued to tumble.

—Foot Locker rose $1.62 to $33.48. Its net income rose 61 percent in the third quarter.

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