Major indexes ended mixed today after on light volume with just, just 4.58 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq shortly before close. The Dow Jones slid 6.12 or 0.05% to 12,393.90 while the Nasdaq pushed higher, up 2 points of 0.07% to 2.791.19. The S&P 500 sunk 0.24 or 0.02% to 1,332.63.
While most companies had an underwhelming Tuesday, the same cannot be said of the National Semiconductor Corporation (NYSE: NSM) which sky rocketed 71% today after Texas Instruments (NYSE: TXN) offered to buy the company for $6.5 billion late on Monday.
Elsewhere plan to rebalance the Nasdaq 100 .NDX in early May prompted trader to purchase companies with that will receieve increased weights as a result of the decision like Microsoft Corp. (NASDAQ: MSFT), Intel Corp (NASDAQ: INTC) and Cisco System Inc. (NASDAQ: CSCO). Nasdaq OMX announced intentions to reduce the weight of 82 securities to more closely mirror their market capitalization.
Among the companies negatively impacted by this was Apple, with its weighting cut from 20.5 percent to 12.3 percent. Shares of the company declined 0.7% in trading today. Google also fell though for different reasons, sinking 3.2% following reports that the U.S. Federal Trade Commission is considering beginning a massive antitrust investigation into the company's Internet Search Dominance.
After a weeklong rally, the Bank of Ireland also fell today slipping 8.33%.
Pharmaceuticals had a big day today with Questcor Pharamseuticals (NASDAQ :QCOR) up over 20%, Cubist Pharamseuticals (NASDAQ: CBST) up 14.89% and and Pharmasset Inc. (NASDAQ: VRUS) up 12.25%.
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