Market Wrap: A RIM Fail; Draghi Thwarts Any QE Ideas; Zynga!; Initial Claims, Nice Surprise

Market wrap-up for December 15th

End of the Day: Dow Jones up 45.3 to 11,868.81; Nasdaq up 1.7 to 2,541.01; S&P 500 up 3.9 to 1,215.75

The following is a brief summary of events moving markets today:

• At this point, someone might be playing a prank: Research In Motion (Nasdaq: RIMM) is getting stomped after-hours Thursday following okay third-quarter 2012 earnings numbers but sour outlook. Even if you didn't buy tickets, you've gotta be enjoying the show somewhat (this author holds no position, BTW).
  
  Revs were $5.169 billion and adjusted earnings were $1.27, versus views calling for revs of $5.27 billion and EPS of $1.19. For more, click here
  
  
• Draghi cools chatter: ECB President Mario Draghi played down any hopes of bond buying, also saying he did not see results of recent quantitative easing measures leading to stellar economic performance in the U.S. or U.K.
  
  Nothing out of Merkel today, for the most part.
  
  
• If you think the games are great, try the IPO: Zynga (Nasdaq: ZNGA), the maker of such addictive offerings as FarmVille, CityVille, and other -Ville titles, is said to price its 100 million IPO at the top-end of the expected $8.50 to $10 range. Click here for more on that.
  
  
• Technology, unite!: After the market closed Wednesday, Lam Research Corp. (Nasdaq: LRCX) and Novellus Systems (Nasdaq: NVLS) entered an agreement whereby Lam would acquire Novellus in an all-stock transaction valued at approximately $3.3 billion. The combined enterprise, which will retain the name of Lam Research Corp., will be a semiconductor equipment company with a broad portfolio of market-leading products and multiple opportunities to drive value creation through significant revenue and cost synergies. Total cost synergies are expected to be approximately $100 million on an annualized basis by the fourth quarter of 2013.
  
  Click here for more color.
  
  
• Initial claims make (nice) surprise drop: According to data from the U.S. Labor Department Thursday, initial jobless claims fell to the lowest point since May 2008, dropping 19,000 to 366,000. Analysts had forecast a gain to 390,000. Last week's number was revised higher from 381,000 to 385,000.
  
  
• Adios, Iraq! We won't be missin' ya!: The U.S. formally pulled-out of Iraq, or at least completed the ceremony. Quick stats: 4,500 soldiers lost, 9 years, and over $800 billion spent.

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