Higher close as consumer spending rises

The markets closed modestly higher with the Dow rising 12 points to 17,827 as October consumer spending edged up. Nasdaq climbed 29 points to 4,787.

On the upside

Kinder Morgan (NYSE: KMI) completed its acquisition of Kinder Morgan Energy Partners (NYSE: KMP), Kinder Morgan Management (NYSE: KMR) and El Paso Pipeline Partners (NYSE: EPB).

GoPro (Nasdaq: GPRO) will introduce drones equipped with high-definition cameras next year. 

Cubic (NYSE: CUB) reported record fourth quarter earnings and revenue that surpassed analyst expectations.

On the downside

KLA-Tencor (Nasdaq: KLAC) lowered its second quarter earnings outlook.

Shares of Diamond Offshore (NYSE: DO) and Transocean (NYSE: RIG) both dropped after rivals SeaDrill (NYSE: SDRL) and North Atlantic Drilling (NYSE: NADL) suspended their dividends.

AeroVironment (Nasdaq: AVAV) fell to a loss for the second quarter as revenue dropped.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 rose 5 points to 2072. Bitcoin lost $9 to $364.

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