Fears Of Weak European Economy Sink Stocks

Fears about weakening economic conditions in Europe sent the markets into a tailspin with the Dow collapsing 268 points to 10,002. Nasdaq plummeted 65 points to 2125.


On the upside

THQ (Nasdaq: THQI) reversed year ago losses to post a third quarter profit and forecast fourth quarter results ahead of estimates.

Kulicke & Soffa Industries (Nasdaq: KLIC) reported first quarter results that surpassed expectations by a wide margin and forecast second quarter revenue above estimates.

Third quarter earnings nearly doubled for 99 Cents Only Stores (NYSE: NDN).

On the downside

Penn National Gaming (Nasdaq: PENN) narrowed fourth quarter losses but forecast first quarter and full year results below expectations.

Caisse de Depot sold over $10 million worth of Patriot Coal (NYSE: PCX) stock.

Standard Pacific (NYSE: SPF) posted profit for the fourth quarter but revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by a margin of nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 20 points to 589.

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This page contains a single entry by published on February 4, 2010 1:34 PM.

Concerns About Europe's Fiscal Health Sink Markets was the previous entry in this blog.

Unemployment Rates Drops Despite Unexpected Job Losses is the next entry in this blog.

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