Markets Open Lower Over Banking Losses

January 20, 2010 6:48 AM |
Banking losses weighed on investor sentiment to send the markets down to a lower open with the Dow plunging 157 points to 10,567. Nasdaq plummeted 38 points to 2282.

 

On the upside

Samsung settled a lawsuit filed by Rambus (Nasdaq: RMBS) by agreeing to license Rambus technology. Rambus may potentially receive $900 million in the next five years.

Lexicon Pharmaceuticals (Nasdaq: LXRX) reported positive results from a Phase II clinical trial of its diabetes treatment LX4211.

Second quarter earnings for Cree (Nasdaq: CREE) more than tripled to surpass expectations.

On the downside

While fourth quarter earnings for CSX (NYSE: CSX) rose, shipping volume dropped and full year income fell.

Lexington Realty Trust (NYSE: LXP) will offer $100 million worth of convertible guaranteed notes.

Shares of eBay (Nasdaq: EBAY) fell ahead of its earnings release after market close.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 637.

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This page contains a single entry by published on January 20, 2010 6:48 AM.

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