Markets Drop At Open Over Possible Downgrade Of Greece

February 25, 2010 6:51 AM |
Concerns that Greece's credit rating may be downgraded sent the markets down to a sharply lower open with the Dow plunging 157 points to 10,216. Nasdaq tumbled 30 points to 2205.

 

On the upside

Coca-Cola (NYSE: KO) will acquire bottler Coca-Cola Enterprises' (NYSE: CCE) North American operations.

Express Scripts (Nasdaq: ESRX) reported higher fourth quarter profit as revenue surged.

Mylan (NYSE: MYL) reversed year ago losses to post a greater than expected profit for the fourth quarter.

On the downside

Palm (Nasdaq: PALM) blamed disappointing demand for cutting its revenue outlook for the third quarter as well a the full year.

Oppenheimer analyst Dr. Brian Abrahams downgraded Anadys Pharmaceuticals (Nasdaq: ANDS) after the company reported that its hepatitis C treatment was barely more effective than a placebo.

Fourth quarter earnings for Foster Wheeler (Nasdaq: FWLT) tumbled as demand and prices fell. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 622.

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This page contains a single entry by published on February 25, 2010 6:51 AM.

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