Markets Down As Earnings Disappoint

November 20, 2009 10:20 AM |
Disappointing earnings news weighed down the markets during the midday with the Dow falling 43 points to 10,289. Nasdaq lost 16 points to 2140.

On the upside

Zumiez (Nasdaq: ZUMZ) reported lower third quarter earnings but the results topped analyst estimates.

Fourth quarter earnings and revenue for Verigy (Nasdaq: VRGY) beat expectations and the semiconductor testing company forecast first quarter results above estimates.

Synovus Financial (NYSE: SNV) reassured investors that it exceeds the capital threshold under the Supervisory Capital Assessment Program methodology.

On the downside

Novavax (Nasdaq: NVAX) will offer 6.8 million common shares in order to raise approximately $21 million.

DryShips (Nasdaq: DRYS) priced its offering of senior convertible notes at $7.19 per share.

Ford (NYSE: F) announced plans to invest approximately $2.3 billion in Brazil to increase production.

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 lost 4 points to 580.

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This page contains a single entry by published on November 20, 2009 10:20 AM.

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