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From Briefing.com: 4:15 pm : The major averages began the day on a mixed note before selling pressure pushed the key indices to their respective lows. This morning, House Speaker John Boehner addressed the media in Washington. During his remarks, the speaker suggested President Obama is not serious about cutting spending, and the White House is willing to go over the fiscal cliff. Mr. Boehner's remarks had little impact on the markets, which continued pushing to fresh lows. However, a late-afternoon headline indicated Speaker Boehner and President Obama will meet in person at 17:00 ET. The report lifted the S&P 500 off its worst level of the day, but the benchmark index still finished with a loss of 0.6%.

The energy sector underperformed, and the SPDR Energy Select Sector ETF (XLE 71.49, -0.67) lost 0.9%. Looking at notable decliners, Nabors Industries (NBR 13.85, -0.68) fell 4.7% after Jefferies downgraded the stock to ‘Underperform' from ‘Hold.'

Anadarko Petroleum (APC 74.75, -0.79) slid 1.1% despite Jefferies making positive comments about the company. The remarks followed the closing arguments in the court case brought against APC by chemical producer Tronox (TROX 15.58, -0.47).

Elsewhere in energy, coal stocks were mixed. CONSOL Energy (CNX 33.81, -0.44) shed 1.3% while Walter Energy (WLT 36.26, +0.39) advanced 1.1%.

Technology stocks lagged notably and Apple (AAPL 529.69, -9.31) slipped 1.7%. Semiconductor manufacturers also weighed as the PHLX Semiconductor index settled lower by 1.1%. Among individual producers, Cirrus Logic (CRUS 27.41, -1.71) was the biggest laggard, down 5.9%.

Consumer staples outperformed the remaining S&P 500 sectors. Boston Beer (SAM 131.94, +17.71) surged 15.5% after the brewer raised its 2012 earnings expectations as well as the 2013 depletion projections. Following the update, the company sees 2012 earnings between $4.30 and $4.60, while the Capital IQ consensus estimate expects earnings at $4.24 per share.

Elsewhere, B&G Foods (BGS 29.53, +1.06) rose by 3.7% following an upgrade to ‘Outperform' from ‘Sector Perform' at RBC Capital Markets.

Also of note, CVS Caremark (CVS 48.50, +0.96) added 2.0% after raising its dividend by 38% to $0.22 per share. In addition, the company guided full-year earnings above consensus estimates.

Recent strength in defense stocks has lifted the PHLX Defense Sector Index to an all-time high. After reaching fresh highs on Wednesday, the index has been under pressure. Today, the defense index slid 1.0% and 15 of 17 components declined. Aircraft manufacturers Lockheed Martin (LMT 89.99, -1.82) and Embraer (ERJ 25.10, -0.71) were the two weakest performers, down 2.0% and 2.8%, respectively. Earlier, the New York Times reported the Canadian government will reconsider its planned purchase of F-35 fighter jets from Lockheed Martin due to high costs.

In notable news, Best Buy (BBY 14.12, +1.94) spiked 15.9% after CNBC reported company founder Richard Schulze is expected to submit a bid worth between $5 and $6 billion in his attempt to take the company private by week's end. Also of note, Chief Financial Officer Sharon McCollam bought over 100,000 shares on December 10, 2012.

The market received several economic reports today, and the data points were largely in-line with expectations. The latest weekly initial jobless claims count totaled 343,000, which was lower than the 375,000 that had been expected by the Briefing.com consensus. The tally was also below the revised prior week count of 372,000. As for continuing claims, they fell to 3.198 million from 3.221 million.

November retail sales rose by 0.3%, which was slightly worse than the 0.4% increase that had been broadly expected. The prior month's reading pointed to a decrease of 0.3%. Excluding autos, retail sales were unchanged, which was in-line with the Briefing.com consensus.

Overall producer prices declined during November by 0.8%, which was cooler than the 0.5% decrease that had been widely forecast. Core producer prices rose by 0.1%, which was in-line with the Briefing.com consensus.

During October, inventories rose by 0.4%, which was in-line with the Briefing.com consensus. Today's reading follows the prior month's increase of 0.7%.

Tomorrow morning, November CPI and core CPI will be reported at 8:30 ET. Lastly, November industrial production and capacity utilization will be announced at 9:15 ET.DJ30 -74.73 NASDAQ -21.65 SP500 -9.03 NASDAQ Adv/Vol/Dec 929/1.78 bln/1546 NYSE Adv/Vol/Dec 911/663.2 mln/2120

3:30 pm : Crude oil fell after two sessions of gains as renewed concerns over the "fiscal cliff" overshadowed yesterday's Fed announcement. The energy component briefly poked into positive territory and touched a session high of $86.97 per barrel. However, prices quickly tumbled as low as $85.81 per barrel and settled the session 1.0% lower at $85.90 per barrel.

Natural gas extended yesterday's losses, falling to a session low of $3.29 per MMBtu following weaker-than-anticipated inventory data that showed a build of 2 bcf when a draw of 3 to 4 bcf was expected. Despite inching upwards in afternoon pit action, it settled 0.9% lower at $3.35 per MMBtu.

Precious metals fell as yesterday's Fed-related momentum faded and investors reacted to economic data that included better-than-anticipated Jobless Claims and weak Retail Sales. Gold dipped to a session low of $1690.70 per ounce in morning floor action and spent the remainder of the session chopping around just slightly above that level. It eventually settled at $1697.10 per ounce, or 1.2% lower. Silver inched lower into negative territory after sliding off its session high of $32.81 per ounce. It touched a session low of $32.28 per ounce moments before closing with a 4.2% loss at $32.38 per ounce.DJ30 -91.18 NASDAQ -28.63 SP500 -11.24 NASDAQ Adv/Vol/Dec 831/1478.3 mln/1635 NYSE Adv/Vol/Dec 738/424 mln/2275

9:02AM SanDisk announced it has launched a new venture capital initiative to invest in companies aligned with SanDisk's key strategic priorities (SNDK) 43.29 : SanDisk also announced it has made its first investment in WHIPTAIL, a data storage company that designs fast, energy-efficient enterprise infrastructure equipment using flash memory technology. SanDisk will be a strategic investor in WHIPTAIL's $31 million series C round of funding. In addition to SanDisk, some of the investors included in the C series round are Ignition Partners, RRE Ventures and Spring Mountain Capital. Individual investment terms were not disclosed.

8:35AM Research In Motion: U.S. Immigration and Customs enforcement to launch BlackBerry 10 pilot program (RIMM) 13.31 : Co announces that it will begin a pilot program with U.S. Immigration and Customs Enforcement for the new BlackBerry Enterprise Service 10 mobile enterprise management solution and BlackBerry? 10 smartphones in early 2013. ICE will be among the first government organizations to pilot the new BlackBerry 10 solution.

8:00AM Rainmaker appoints Donald Massaro as President and CEO (RMKR) 0.66 : Co announces the appointment of Donald Massaro as President and Chief Executive Officer, and member of the Board effective December 11, 2012. For the last six years, Massaro held the position of CEO of Sendmail, a leader in messaging infrastructure serving the world's largest corporations.

7:05AM Ciena misses by $0.01, reports revs in-line; guides Q1 revs ~in-line (midpoint below consensus) (CIEN) 15.57 : Reports Q4 (Oct) adj. loss of $0.07 per share, $0.01 worse than the Capital IQ Consensus Estimate of ($0.06); revenues rose 2.2% year/year to $465.5 mln vs the $468.03 mln consensus; adj. gross margin +310 bps QoQ -50 bps YoY at 42.7%. Non-U.S. customers contributed 46% of total revenue; one 10%-plus customer represented a total of 11% of revenue.

Co issues guidance for Q1, sees Q1 revs of $435-460 mln vs. $458.51 mln Capital IQ Consensus Estimate, with adj gross margin percentage in the low 40s range.

LDK Solar (LDK) announced that the China International Economic and Trade Arbitration Commission stated that the wafer supply contracts entered into in October 2007 and June 2008 between LDK Solar and Canadian Solar (CSIQ) and its China-based subsidiary affiliate are valid and stated that by virtue of the arbitration proceedings CSIQ shall pay to LDK Solar an amount of ~RMB 248.9 mln, including RMB 60 mln paid as a deposit and additional cash of RMB 188.9 million, to compensate LDK Solar for the loss of profitability.
Suntech Power (STP) and SunSystem S.p.A., a leading Italian solar engineering, procurement and construction company, have signed a contract for Suntech to supply 25 megawatts of polycrystalline solar panels. The Suntech solar panels will power two new photovoltaic projects under construction in Romania that will be grid connected by the end of 2013.

1:43AM MIPS Tech Board determines CEVA's (CEVA) acquisition proposal is superior to acquisition agreement with Imagination (MIPS) 7.84 : Co announces its Board has unanimously determined that a new proposal from CEVA (CEVA) to acquire the co, constitutes a "Superior Proposal" to the merger agreement with Imagination Technologies Group, originally announced on November 5, 2012. MIPS has notified Imagination Technologies that the MIPS Board of Directors intends to effect an adverse recommendation change or terminate the Merger Agreement, but is prepared to continue negotiations if Imagination chooses to adjust the terms of the Merger Agreement. MIPS is obliged to negotiate with Imagination in good faith until the end of the business day on December 14, 2012 to make adjustments to the terms and conditions of the Merger Agreement, such that the CEVA Proposal no longer constitutes a "Superior Proposal."

Lattice Semi (LSCC) issues downside guidance for the fourth quarter with revenues -8 to -6% quarter over quarter to approximately $65.2-66.7 million (from -2 to +2% quarter over quarter) versus the $70.92 million consensus. Gross margin percentage is expected to be ~53% plus or minus 2%. This is unchanged from prior guidance. Total operating expenses are expected to be ~$43 million, including ~$5.5 million in restructuring charges. This is unchanged from prior guidance.

Ciena (CIEN) reported fourth quarter adjusted loss of $0.07 per share, $0.01 worse than the Capital IQ consensus of ($0.06), while revenues rose 2.2% year/year to $465.5 million versus the $468.03 mln consensus; adjusted gross margin +310 bps quarter over quarter -50 bps year over year at 42.7%. Non-U.S. customers contributed 46% of total revenue; one 10%-plus customer represented a total of 11% of revenue. The company issued guidance for the first quarter with revenues $435-460 million versus the $458.51 million consensus, with adjusted gross margin percentage in the low 40s range.

10:57 am S&P Information Tech INdex trading slightly higher today and ahead of the broader market

The tech sector is trading higher today, just ahead of a flat broader market. Semiconductors are showing relative strength as well with the SOX trading 0.4% higher. Within the chip index, IDCC (+2.9%) is a notable standout. Among other major indices, the SPY is trading flat today, while the QQQ and the NASDAQ are trading 0.1% higher on the session. Among tech bellwethers, FB (+3.3%) is showing notable strength, while AAPL (-0.9%) is under pressure.

In tech earnings last night, LSCC (-5.9%) lowered Q4 rev guidance. This morning, CIEN (+3.1%) posted a slight Q4 miss and guided just below consensus at its midpoint. In news, GOOG (+1.3%) released a map app for AAPL (-0.9%) iPhone. Also, S (-0.7%) proposed acquiring CLWR (+13.8%) at a purchase price of $2.90 per. Among rumors, headlines from New York Times just crossed saying YHOO (+0.5%) may look to shake up Board. In notable analyst upgrades this morning in the tech space, AVGO (+0.8%) was upgraded to Buy at Goldman, MCHP (+1.0%) was upgraded to Neutral at Goldman, and RFMD (+7.1%) was upgraded to Overweight at Barclays. Among downgrades, Wunderlich was downgraded ALLT (-14.9%) to Hold, ADI (-0.7%) was downgraded to Neutral at Citigroup, LLTC (-1.2%) was downgraded to Sell at Citigroup, LXK (-6.7%) was downgraded to Sell at Deutsche Bank and IRF (-3.5%) was downgraded to Sell at Goldman. ADBE (-0.9%) and PAY (+0.6%) are two notable names in tech scheduled to report quarterly results today after the close.