Today in the markets
U.S. stocks closed on the downside Thursday after recovering from a midday slump on news that U.S. politicians will return Sunday with fiscal-cliff action expected.
Canadian stocks finished higher as traders kept a close eye on talks between the White House and Congress to avoid a major fiscal tightening, early next year.
The S&P/TSX Composite Index gained 2.97 points to 12,373.77, while the TSX Venture Exchange edged up 11.15 points to close at 1,196.75.
Active stocks included Amazon.com Inc. (NASDAQ: AMZN, Stock Forum), which slid 0.13% to $248.31 after the company was blamed for a one-day Netflix Inc. (NASDAQ: NFLX, Stock Forum) service disruption. Netflix was off 0.17% at $90.50.
Meanwhile, Marvell Technology Group Ltd. (NASDAQ: MRVL, Stock Forum) shares tumbled 3.5% to $7.14, after a jury ruled against the chip maker in a $1.17 billion patent infringement case.
In Canada, Mood Media Corp. (TSX: T.MM, Stock Forum) has acquired the assets of Technomedia Solutions and its sister company, GoConvergence, for approximately US$23 million in cash. Toronto-based Mood Media may also make an additional payment in 2014, depending on the profitable growth of the operations. The stock rose 0.55% to $1.83.
For news about small stocks that made big moves in Thursday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report