Record Credit Card Defaults Weighs Down Markets

September 23, 2009 1:26 PM |
Record credit card defaults weighed down the markets to a lower close with the Dow tumbling 81 points to 9748.  Nasdaq dropped 14 points to 2131.

On the upside 

Ascent Solar Technologies (Nasdaq: ASTI) will supply TurtleEnergy with solar cells in a multiyear deal.

Rodman & Renshaw initiated coverage of Enzo Biochem (NYSE: ENZ) with a Market Outperform rating.

Speculation that Microsoft (Nasdaq: MSFT) may acquire Electronic Arts (Nasdaq: ERTS) lifted shares of the video game publisher.

On the downside

Shares of flavored tobacco maker Star Scientific (Nasdaq: STSI) fell after the Food and Drug Administration banned flavored cigarettes.

Boenning & Scattergood analyst William Sutherland downgraded NutriSystem (Nasdaq: NTRI) citing recent gains in the company stock price.

Gaylord Entertainment (NYSE: GET) will offer 5 million shares of common stock.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 613.

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