Trade Deficit Leaps, Markets Open Lower

February 10, 2010 6:52 AM |
The nation's trade deficit leaped by a larger than expected $40.18 billion in December to weigh down the markets to a lower open with the Dow falling 89 points to 9969. Nasdaq lost 18 points to 2131.

 

On the upside

Athersys (Nasdaq: ATHX) was granted a patent for the isolation and expansion of non-embryonic multipotent stem cells.

Fourth quarter earnings for Baidu (Nasdaq: BIDU) surged to beat expectations as revenue soared.

Correction Corp. of America (NYSE: CXW) reported higher fourth quarter earnings the topped estimates as a greater inmante population boosted revenue.

On the downside

Genzyme (Nasdaq: GENZ) and Isis Pharmaceuticals (Nasdaq: ISIS) reported that phase 3 clinical trial of their cholesterol treatment mipomersen met study goals but the stock prices fell.

Micron Technology (Nasdaq: MU) will acquire rival Numonyx in an all stock deal valued at approximately $1.27 billion.

While Sprint (NYSE: S) narrowed fourth quarter losses, the results missed expectations. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 587.

Tags:

Search


About this Entry

This page contains a single entry by published on February 10, 2010 6:52 AM.

Possible European Assistance For Greece Sends Markets Soaring was the previous entry in this blog.

Uncertainty About Greece Bailout Weighs Down Markets is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12