Portugal's Downgrade Sends Markets Down To Lower Close
On the upside
RADCOM (Nasdaq: RDCM) was selected by 3G mobile service provider in China to monitor the company's network.
Shares of mortgage insurers PMI Group (NYSE: PMI), Radian Group (NYSE: RDN) and MGIC Investment (NYSE: MTG) surged after Bank of America (NYSE: BAC) announced a new program that will lower the principal on underwater home loans.
USEC (NYSE: USU) and the Department of Energy entered a $90 million cost share agreement to support centrifuge development and demonstration.
On the downside
Orrstown Financial Services (Nasdaq: ORRF) priced its public offering of over 1.48 million common shares at $27 per share.
FBR Capital Markets analyst Eric Tracy downgraded Under Armour (NYSE: UA) saying that the company is now fairly valued.
Cemex (NYSE: CX) warned of losses for the first quarter due to the sluggish global economy and severe winter storms that halted construction projects.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 683.
