Markets Retreat As Financial Stocks Drop

November 2, 2009 11:01 AM |
The markets retreated during the midday with the Dow falling 15 points to 9696 as financial stocks dropped. Nasdaq tumbled 18 points to 2026.

On the upside

Amylin Pharmaceuticals (Nasdaq: AMLN) entered a partnership with Takeda Pharmaceutical to develop weight loss treatments.

Vertex (Nasdaq: VRTX) reported that its hepatitis C treatment was nearly as effective given twice a day as three times a day.

Encore Acquisition (NYSE: EAC) and Denbury Resources (NYSE: DNR) announced merger plans.

On the downside

YRC Worldwide (Nasdaq: YRCW) announced a debt exchange offer.

The Food and Drug Administration denied approval for GTx's (Nasdaq: GTXI) fracture reducing drug for prostate cancer patients.

Q-Cells terminated its supply contract with LDK Solar (NYSE: LDK).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 569.

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This page contains a single entry by published on November 2, 2009 11:01 AM.

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