Fall in Home Sales Sends Major Indices Down (NFLX,AMGN)

The expansionary comments from the Federal Reserve were not enough for markets today, as major indices fell. The most likely factor was the housing data which came out, showing that  sales fell in December for the first time in four months, making 2011 the worst year for home sales in nearly fifty years. In corporate news, Netflix (NFLX) gained subscribers last quarter, after the bumpy quarter before, and were rewarded for it in the markets. The biotech giant Amgen (AMGN) announced that it would be buying Micromet (MITI), a German-American cancer research firm, in order to get at the firm’s leukemia therapy. Micromet’s stocks jumped on the news, though Amgen’s went slightly down.

Word on the Street

• Stocks ended down on bad economic data.
• House sales in December fell for the first time in four months.
• Fed Chairman Ben Bernanke hinted that there may be more quantitative easing in the near future.
• Netflix (NFLX) saw big gains today after it announced that it had a quarter of subscriber growth.
• Taco Bell will begin serving breakfast, and a subset of its stores will be open for 24 hours.
• Amgen (AMGN) will be buying the cancer research firm Micromet (MITI).

Interesting Tidbits

• Pay For Your Next Big Mac With Facebook Credits.
• 27,000 Chromebooks heading to schools in three US states.

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