Markets are relatively flat this morning, with companies waiting to release news until after the New Year's holiday.
Driving markets today will be news about jobless claims. Data released by the government on the labor market was better than economists had hoped for, but shows that the labor market remains soft. New claims for unemployment benefits dropped 34,000 to a seasonally adjusted 388,000. This is lowest reading since early July 2008. Economists had expected the number to be 415,000.
In corporate news, Endo Pharmaceuticals (NASDAQ:ENDP) and ProStrakan received approval for Fortesta testosterone gel, meant to treat men with low testosterone.
Lockheed Martin (NYSE:LMT) and the Australia's Austal were awarded U.S. Navy contracts valued at least $3.5 billion each to design and build up to 20 combat ships through 2015.
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