Disappointing Consumer Sentiment Sends Markets Tumbling

On the upside

Interactive Data (NYSE: IDC) is exploring strategic alternatives to improve shareholder value.

Verizon (NYSE: VZ) cut its unlimited calling plan prices, which boosted shares of Palm (Nasdaq: PALM). Verizon will introduce both the Palm Pre Plus and Pixi Plus on January 25.

Pershing Square Capital Management acquired an approximate 2% share of Kraft Foods (NYSE: KFT).

On the downside

Shares of student lender Sallie Mae (NYSE: SLM) fell ahead of its earnings release next week.

Pacific Capital Bancorp (Nasdaq: PCBC) completed the sale of its Refund Anticipation Loan and Refund Transfer units to Santa Barbara Tax Products Group.

Eaton Vance Management (NYSE: EOI) announced the monthly distributions for two of its equity income funds.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 637.