Rising Dollar May Stall Recovery

October 26, 2009 1:53 PM |
The markets closed lower with the Dow plunging 104 points to 9867 over concerns that the rising dollar may stall the economic recovery. Nasdaq fell 12 points to 2141.

On the upside

AECOM Technology (NYSE: ACM) acquired Ellerbe Becket for an undisclosed amount.

Unisys (NYSE: UIS) began trading today after a 1-for-10 reverse stock split took effect late last Friday.

Rockwood Holdings (NYSE: ROC) reversed year ago losses to post a profit for the third quarter that topped estimates.

On the downside

Third quarter earnings for Sohu.com (Nasdaq: SOHU) fell even as sales rose.

Wunderlich downgraded Synovus (NYSE: SNV).

Although General Cable (NYSE: BGC) reported third quarter earnings that beat expectations, the company forecast disappointing fourth quarter results.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 593.

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This page contains a single entry by published on October 26, 2009 1:53 PM.

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