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Stock Market & Financial Investment News

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December 24, 2012
13:21 EDTHLF, FB, AEGROn The Fly: Closing Wrap
Stocks on Wall Street finished lower on the day on a shortened holiday trading session. After opening lower, light volume saw the averages move in a narrow range... COMPANY NEWS: Shares of Herbalife (HLF) remained under pressure today, bringing the stock's losses to nearly 40% since Bill Ackman reported that he had taken a large short position in the name, then called the company's business model a pyramid scheme at an investor conference presentation. Herbalife today said it would provide an update at an analyst and investor meeting January 10, and shares of Herbalife fell $1.21, or 4.44%, to $26.06 on the day... MAJOR MOVERS: Among noteworthy gainers was Facebook (FB), up 67c, or 2.55%, to $26.93 after Needham increased their price target on shares to $33 from $25 citing upside from new revenue streams... Aegerion (AEGR) today received FDA approval for its Juxtapid capsules, however the approval requires the company include a "Boxed Warning" on the drug, citing the risk of hepatic toxicity. Shares of Aegerion opened sharply lower but recouped some losses, closing down 46c, or 1.79%, to $25.25... INDICES: The Dow was down 51.76, or 0.39%, to 13,139.08; the Nasdaq was down 8.41, or 0.28%, to 3,102.60; the S&P was down 3.49, or 0.24%, to 1,426.66.
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