Dubai's Financial Stability Weighs On Investors

December 8, 2009 1:42 PM |
Continued concerns about the financial stability of Dubai sent the markets down to a lower close with the Dow tumbling 104 points to 10,285. Nasdaq dropped 16 points to 2172.

On the upside

Hoku Scientific (Nasdaq: HOKU) established a schedule for Solarfun Power Holdings to pay Hoku for supplying Solarfun with polysilicon.

Pharmacyclic (Nasdaq: PCYC) reported upbeat interim results from a Phase 1 study of the company's orally administered Bruton's tyrosine kinase inhibitor PCI-32765.

Television company Belo (NYSE: BLC) said that advertising revenue should show improvement.

On the downside

Shares of Supervalu (NYSE: SVU) dropped after Kroger (NYSE: KR) swung to a third quarter loss.

Fitch Ratings lowered the credit rating of Greece sending shares of National Bank of Greece(NYSE: NBG) tumbling.

Mechel (NYSE: MTL) reported lower third quarter earnings. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by a margin of more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 597.

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This page contains a single entry by published on December 8, 2009 1:42 PM.

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