Debt Concerns Weigh Down Markets


The markets pared its losses during the midday but continued to trade under water with the Dow losing 27 points to 10,899 as European debt concerns weighed on investors. Nasdaq fell 13 points to 2411.

On the upside

SenoRx (Nasdaq: SENO) will be acquired by CR Bard (NYSE: BCR) in a deal valued at approximately $213 million.

American Capital (Nasdaq: ACAS) reversed year ago losses to post a profit for the first quarter.

First quarter earnings for Conseco (NYSE: CNO) rose to top analyst estimates.

On the downside

First quarter earnings for Tandem (Nasdaq: TNDM) slipped to fall short of expectations.

USEC (NYSE: USU) widened first quarter losses as revenue tumbled.

Although The Phoenix Companies (NYSE: PNX) swung to a first quarter profit, the results fell far short of expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 702.

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This page contains a single entry by published on May 5, 2010 10:20 AM.

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