Nike Falls at the Open Despite Beating Earnings, Deal Lifts Xerox

Not much is expected on economic data on this last full trading day of the year but earnings reports are moving stocks. Blackberry (BBRY) was sharply lower after reporting Q3 revenue fell more than estimates. The company did post adjusted quarterly earnings that topped Wall Street's forecasts. Nike (NKE) also falling despite exceeding expectations on both the top and bottom lines. Investors are focusing more on the slowdown in the athletic apparel maker's global orders. Xerox (XRX) rose at the open after announcing it plans to sell its IT outsourcing business for $1.05 billion to French tech company, Atos. The deal is expected to close in the first half of next year.