Business news with words action+lower. 41 news.

WASHINGTON (MarketWatch) - Telecommunications stocks mostly edged lower on quiet Monday action, led by a 1% drop in Sprint Nextel Corp . Other notable decliners included Tellabs Inc. , Ciena Corp. and Juniper Networks Inc. , all down around 1% in the session before the New Year's holiday. Among the few gainers were Vonage Holding Corp. and Nortel Networks Corp. The two companies settled a patent dispute, although the agreement does not require payment from either side. Shares of Vonage were up 7% and Nortel rose 1.6%.

SAN FRANCISCO (MarketWatch) -- Energy stocks drifted slightly lower at the open Monday, the final session of 2007, amid sharply lower volume. Early action saw shares of Delta Petroleum Corp. jump as much as 24% to $19.30 a share after Kirk Kerkorian's Tracinda Corp. announced it was taking a 35% stake in the company at $19 a share. But the news failed to spur gains elsewhere in the group. The Amex Oil Index was off 0.2% at 1,574 points, the Philadelphia Oil Service Index was down 1% at 303, and the Amex Natural Gas Index was essentially unchanged at 580 points.

LONDON (MarketWatch) -- Gold futures saw a slight pullback while oil futures were steady in early action Monday. Gold for February delivery slipped $2.90 to $839.80 an ounce and oil futures for February delivery rose 5 cents to $96.05 a barrel.

NEW YORK (MarketWatch) -- U.S. Treasury bonds rallied early Thursday, sending yields lower, as traders fled to the safety of government bonds. Media reports of the death of Pakistani opposition leader Benazir Bhutto also unsettled the markets. The benchmark 10-year Treasury bond rose 22/32 to 100 14/32, its yield falling to 4.195%. "Yields dipped slightly in line with stocks following news of former Pakistan Prime Minister Bhutto's untimely demise, which obscured any reaction to the muted durables report and slight increase in jobless claims," said analysts at Action Economics. "The 10-year yield dropped 4 basis points to the 4.20% area as geopolitical risk heats up in the Middle East."

NEW YORK (MarketWatch) -- U.S. Treasury bonds edged lower early Wednesday in thin trading, sending yields higher. The benchmark 10-year Treasury note was down 6/32 at 100 3/32, with a yield of 4.238%. "U.S. markets reopened Wednesday after the Christmas holiday, with yields off their highs but still elevated after stock market gains, a moderate finish to holiday retail sales and Merrill's latest recapitalization lowered risk aversion slightly heading into year-end," said analysts at Action Economics.

NEW YORK (MarketWatch) -- Gold futures edged lower early Wednesday, as gains in the U.S. dollar lowered investment demand for the precious metal. Gold for February delivery fell $2.20 at $805.20 an ounce on the New York Mercantile Exchange. "A firmer dollar appears to be capping gains," said analysts at Action Economics. "As year-end approaches, traders warn of either high volatility or very quiet markets as trade volume decreases."

NEW YORK (MarketWatch) -- Gold futures edged lower early Monday, as falling crude-oil prices and firmness in the U.S. dollar lowered investment demand for the precious metal. Gold for February delivery fell $3.50 at $794.50 an ounce on the New York Mercantile Exchange. "Weaker oil and a stronger dollar weigh on gold, as a stronger dollar makes gold more expensive for foreign investors and also reduces the appeal of gold as a hedge against inflation," said analysts at Action Economics.

SAN FRANCISCO (MarketWatch) -- Treasurys bonds were lower Thursday, pushing up yields, after economic data showed better-than-expected November retail sales and a rise in wholesale prices of 3.2% the largest change since August 1973. Inflation erodes the return on fixed-income assets. "The acceleration in price pressurse and little sign that the consumer has been fazed by the credit turmoil or the surge in gas prices has taken a bite out of rate cut hopes," wrote analysts at Action Economics. The benchmark 10-year Treasury note was down 10/32 at 100 30/32, with a yield of 4.135%. The 30-year bond was down 20/32 at 106 22/32 with a yield of 4.584%. The two-year note was down 2/32 at 99 29/32 with a yield of 3.170%.

BOSTON (MarketWatch) -- Shares of Biogen Idec Inc. and Neurocrine Bioscienes took serious hits in early trading Thursday, leading sector benchmark indexes lower. The Amex Pharmaceutical Index eased 0.3% to 352.55 and the Amex Biotechnology Index , of which Biogen is a component, skidded 2.4% to 797.46. Biogen shares tumbled 28% to $54.50 in the wake of news late Wednesday that it has not been able to find a suitable buyer. Neurocrine shares faced a harsher fate, tumbling 42% to $5.95. Early Thursday, Neurocrine said that the Food and Drug Administration has declined for the second time to approve its sleep aid indiplon, stating it needs more clinical data.

NEW YORK (MarketWatch) - U.S. stocks on Thursday began lower as mixed economic data did little to offset questions about whether central bank action to curb the credit crunch would work. The Dow Jones Industrial Average [$indu] was down 5.4 points at 1,3468.5. The S&P 500 was off 1.57 points at 1,485.02, while the Nasdaq Composite declined 2.58 points to 2,668.56.

Whether or not the Japanese currency sustains its losses depends on successful central bank action, writes Peter Garnham

A mixed bag of jobs data gave investors no clear signals early Friday, sending tech stocks generally lower while big cap issues held their...

SAN FRANCISCO (MarketWatch) -- Oil and gas stocks clung to a narrow trading range at the open Monday, much like the rest of the equities market. Early action saw the Amex Oil Index hovering within less than one percentage point of unchanged at 1,430 points, with Royal Dutch Shell breaking 1.5% lower to lead decliners at $80.21 a share. The Amex Natural Gas Index was up 0.2% at 540.9 points and the Philadelphia Oil Service Index was ahead 0.2% at 284.8. Crude-oil for January delivery was last trading on the New York Mercantile Exchange at $88.20 a barrel, down 51 cents.

BOSTON (MarketWatch) -- Drug stocks slipped in early action Monday as shares of Amgen Inc. eased in the wake of the release of clinical data that showed its leading anemia drug Aranesp was ineffective in helping control tumor growth in breast cancer patients. The Amex Pharmaceutical Index was marginally lower at 355.65 and the Amex Biotechnology Index slid 0.9% to 820.94. Amgen shares were down 2% at $54.00.

SAN FRANCISCO (MarketWatch) -- The dollar was higher Wednesday compared to Tuesday's late U.S. trading levels, but it was off its overnight session highs after Federal Reserve Vice Chairman Donald Kohn said the central bank can be "nimble" and can't hold the economy hostage to teach speculators lessons, implying more interest rate cuts could lie ahead and weigh on the dollar. "The wide ranging and frank comments from the Fed VC suggest he would vote for further easing," wrote analysts at Action Economics. The euro was trading at $1.4757, down from $1.4824 late Tuesday but off its session low of $1.4711. The yen was lower in line with higher risk appetite after a solid opening on Wall Street, with the dollar buying 109.94 yen, up from 108.88 late Tuesday but below an earlier high of 110.08. The dollar index, which measures the greenback against a basket of six major currencies, was at 75.505, up from 75.210 late Tuesday.

SAN FRANCISCO (MarketWatch) -- Prices of most Treasurys were narrowly lower Friday, pushing yields up, in line with higher stocks prices in a thin trading session that will finish early. "The flight to safety in recent sessions has given a big lift to Treasuries, and rich levels, combined with a rebound in equities, motivated some selling pressure in fixed income markets," wrote analysts at Action Economics. The benchmark 10-year Treasury note was down 5/32 at 101 27/32, with a yield of 4.025%. The two-year note was down 3/32 at 101 2/32 with a yield of 3.061%. But the 30-year bond was up 5/32 at 108 29/32 with a yield of 4.454%.

SAN FRANCISCO (MarketWatch) -- The dollar was lower against the yen Friday, dropping below the 108-yen level for the first time since 2005, but was off record lows against the euro hit earlier on the holiday-shortened trading day following Thanksgiving. "An abbreviated U.S. session and a clear data schedule should see range trading, yet illiquid trading conditions could see further price swings for the dollar, wrote analysts at Action Economics. Both stock and bond markets will close early Friday. The dollar was at 107.88 yen, down 0.5%, and the euro was buying $1.4801, down from $1.4967 reached earlier, which was its highest level since the European unit began trading in January 1999.

BOSTON (MarketWatch) -- Drug stocks were lower in early action Wednesday, during a relatively placid morning for both the pharmaceutical and biotechnology sectors ahead of the Thanksgiving holiday break. The Amex Pharmaceutical Index and the Amex Biotechnology Index were both down 0.5% at 337.45 and 798.20, respectively. Vertex Pharmaceuticals was the notable decliner amongst the mid-cap biotechs, with shares down 5% at $23.40 . Late Tuesday, Vertex and partner Merck & Co. said that they were suspending enrollment in a Phase II clinical trial for a leukemia drug candidate called MK-0457 due to safety concerns.

BOSTON (MarketWatch) -- Drug stocks declined slightly in early action Monday as shares of Pharmion Corp. soared on news that it has agreed to be bought by Celgene Corp. for $2.9 billion, or $72 a share in cash and stock. The Amex Pharmaceutical Index and the Amex Biotechnology Index were both 0.5% lower at 342.69 and 810.32, respectively. Shares of Pharmion were up 35% at $66.75. Celgene investors appeared to be less enthused by the deal, pushing down shares almost 2% to $63.88.

The Ontario Court of Appeal has overturned a lower court decision and certified a class action against TD Bank over fees charged to credit card holders on foreign purchases.