Markets Extend Losses Over Further Banking Regulations

On the upside

International Game Technology (NYSE: IGT) reported higher first quarter earnings prompting an upgrade.

Electrobras (NYSE: EBR) agreed to pay overdue dividends of up to $5.65 billion.

Conexant (Nasdaq: CNXT) reversed year ago losses to post a better than expected profit for the first quarter and forecast current quarter results ahead of analyst estimates.

On the downside

Curis (Nasdaq: CRIS) will offer nearly 6.5 million units of stocks and warrants in order to raise approximately $16.3 million.

Synaptics (NYSE: SYNA) blamed a drop in sales for lower second quarter earnings.

Achillion Pharmaceuticals (Nasdaq: ACHN) will raise approximately $19.7 million through the offering of nearly 10.3 million common shares at a discount.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 629.