Concerns About Europe's Debt Load Sink Stocks

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The Dow tumbled 103 points to 9908, closing below the 10,000 mark for the first time in three months, over concerns about growing debt loads in Europe. Nasdaq dropped 15 points to 2126.

 

On the upside

TheStreet.com wrote that The Phoenix Co.'s (NYSE: PNX) stock price was 45% lower than the consensus among analysts.

Both Carl Reichardt of Wells Fargo Securities and Michael Rehaut of J. P. Morgan ranked MDC (NYSE: MDC) a five star stock.

China Fire & Security (Nasdaq: CFSG) secured a $92 million contract to retrofit Wuhan Iron and Steel for fire protection.

On the downside

Oracle (Nasdaq: ORCL) will purchase AmberPoint for an undisclosed sum.

Wells Fargo (NYSE: WFG) announced that it will hire 1,000 brokers this year and train 400 new recruits.

U. S. District Judge Jed Rakoff will wait for Bank of America (NYSE: BAC) and the Securities and Exchange Commission to submit written responses to questions before ruling on a proposed $150 million settlement over a civil suit alleging that Bank of America misled shareholders.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 586.

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This page contains a single entry by published on February 8, 2010 1:39 PM.

Markets Mixed Over European Debt Concerns was the previous entry in this blog.

Markets Open Higher Over Hopes For EU Assistance For Greece is the next entry in this blog.

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