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Flat Close As Factory Orders Rebound

The markets recovered earlier losses to close flat with the Dow rising 21 points to 12,418 despite lingering concerns about the European debt crisis as investors welcomed a rebound in November factory orders. Nasdaq eased a fraction to 2648.

On the upside

Netflix (Nasdaq: NFLX) subscribers streamed an impressive two billion plus hours of television shows and movies in the fourth quarter.  

Liz Claiborne (NYSE: LIZ) will change its name to Fifth & Pacific as the clothing retailer reorganizes to focus on three premium global lifestyle brands. 

Magnum Hunter Resources (NYSE: MHR) chairman and chief executive Gary C. Evans presented today at the Pritchard Capital Partners Energize 2012 Conference in San Francisco.

On the downside

MetroPCS (NYSE: PCS) will begin offering cellphones with the capability to receive live local television broadcasts but analysts questioned whether demand exists for such a service.  

While Motley Fool said that Alcatel-Lucent (NYSE: ALU) is not likely to file for bankruptcy in 2012, the company must pursue a path to profitability. 

  

Edward Lampert’s hedge fund ESL Investments lowered its stake in AutoNation (NYSE: AN) to 52.5% from 56.4%.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 747.

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