– National
Stocks fell on Tuesday, with a sharp decline in General Motors Corp. dragging down the Dow, while broader indexes fell slightly in an end-of-year malaise.
The Dow Jones Industrial Average fell 30.98, or 0.3 percent, to 10,805.55. The S & P; 500 slipped 0.30, or 0.02 percent, to 1,259.62. The Nasdaq Composite Index fell 0.32, or 0.01 percent, to 2,222.42.
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– Local
Local movers were led by Arden Group Inc., which gained 1.4 percent to $90.78, and Ryland Group Inc., which rose 1.7 percent to $74.25. On the down side, UTI Worldwide Inc. dropped 3.2 percent to $87.37 and shares of J2 Global Communications Inc. dipped 1.7 percent to $45.76.
Shares of Occidental Petroleum Corp. rose 1.9 percent to $83.13 after the Los Angeles-based oil company was buoyed by rising oil prices, which edged up 64 cents to settle at $57.98 a barrel on the New York Mercantile Exchange. The first increase in four days was ahead of a Department of Energy report that is expected to show a dip in U.S. petroleum inventories.
DTS Inc. jumped 4.2 percent to $14.48 after its stock was rated “strong buy” in new coverage by Brean Murray Carret & Co. The price target was set at $18 per share.
Diodes Inc. fell 7.6 percent to $31.50 after the stock rating for the maker of semiconductor devices was cut to “hold” from “buy” by A.G. Edwards & Sons Inc.
Edison International lost 2.4 percent to $44.81 after the Rosemead-based electric energy supplier’s stock rating was downgraded to “hold” from “buy” by Jefferies & Co. The 12-month price target was set at $48 per share.
