Strengthening Dollar Weighs Down Markets

October 26, 2009 10:37 AM |
The strengthening dollar weighed down the markets during the midday with the Dow dropping 79 points to 9892. Nasdaq lost 8 points to 2146.

On the upside

Allied Capital (NYSE: ALD) will be acquired by Ares Capital in an all stock deal valued at approximately $648 million.

ION Geophysical (NYSE: IO) announced a joint venture with BGP to provide seismic data for petroleum prospects based on land.

RadioShack (NYSE: RSH) reported third quarter revenue that topped analyst estimates.

On the downside

FiberTower (Nasdaq: FTWR) announced an exchange offer for its outstanding convertible senior notes.

Private Bancorp (Nasdaq: PVTB) widened third quarter losses as loan loss provisions surged nearly threefold.

Symmetry Medical (NYSE: SMA) blamed disappointing demand for lowering its 2009 guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 595.

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This page contains a single entry by published on October 26, 2009 10:37 AM.

Global Economic Recovery Lifts Stocks to a Higher Open was the previous entry in this blog.

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