Markets Plummet Over Dubai World Woes
On the upside
RBC Capital cited a recent legal settlement over royalty fees for upgrading QLT (Nasdaq: QLTI).
On the downside
Lloyds Banking (NYSE: LYG) will seek the dismissal of legal cases filed against the bank for the return of overdraft fees.
Deere (NYSE: DE) blamed significant charges for swinging to a fouth quarter loss.
IAMGOLD (NYSE: IAG) exercised all its warrants for Merrex Gold.
ING (NYSE: ING) priced an $11.2 billion rights issue at a sharp discount.
Shares of National Bank of Greece (NYSE: NBG) tumbled over concerns that the bank will have funding problems after support from the European Central Bank ends.
In the broad market, declining issues outpaced advancers by a margin of 10 to 1 on the NYSE and by nearly 8 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 578.
