Job Losses Weigh Down Markets
On the upside
ArQule (Nasdaq: ARQL) reported upbeat results from a mid-stage clinical trial of its lung cancer treatment ARQ 197.
FSI International (Nasdaq: FSII) reversed year ago losses to post a second quarter profit and forecast income for the third quarter.
Bank of Ireland (NYSE: IRE) reassured investors that it will be able to raise necessary capital through the private sector.
On the downside
Rite Aid (NYSE: RAD) narrowed fourth quarter losses but fell short of estimates and warned of greater losses for fiscal 2011.
While fourth quarter earnings for SAIC (NYSE: SAI) rose, the results missed expectations and the company lowered its guidance for fiscal 2011.
Fourth quarter earnings for A-Power Energy (Nasdaq: APWR) topped estimates but the company forecast 2010 results far short of analyst expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 683.
