European Debt Concerns Weigh Down Markets

Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139.


On the upside

CVS Caremark (NYSE: CVS) reported higher fourth quarter earnings that topped analyst estimates.

A weekend Barron's article said that if Motorola (NYSE: MOT) spun off its cellphone business, the company's stock could soar 40%.

Fourth quarter earnings for Hasbro (NYSE: HAS) climbed to beat expectations on higher sales.

On the downside

The Food and Drug Administration will select an advisory panel to review Cell Therapeutics' (Nasdaq: CTIC) lymphoma treatment pixantrone due to safety concerns.

Seanergy Maritime (Nasdaq: SHIP) terminated its agreement to acquire a 2009 Capesize vessel.

A newspaper article reported that LLoyds Banking (NYSE: LYG) is in discussions to sell its Integrated Finance unit.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 592.

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This page contains a single entry by published on February 8, 2010 6:53 AM.

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