Stocks finished lower as worries about the “fiscal cliff” persisted. Home Depot gained 3.6% on upbeat earnings report. Tech sector closed in the red despite gains from Apple and Qualcomm, as Microsoft stumbled 4.0% following the surprise departure of Steven Sinofsky, the chief of its Windows business. Also, Facebook lost 1.1% a day before more than 800 million of the company’s shares held by employees and insiders become eligible for sale. AMD soared 5.0% after media-report that the co. had hired J.P. Morgan to “explore options” including a possible sale. In the evening trade Cisco jumped 6.9% after better-than-expected earnings report and solid guidance, while AMD lost 2.4% as the co. said it’s not looking to sell itself or any of its assets. Implied volatility inched lower on moderate trading volumes.
