Durable Goods Orders Drop, Markets Down

A drop in durable goods orders renewed concerns about the global economic recovery to weigh down the markets during the midday with the Dow tumbling 77 points to 10,221. Nasdaq dropped 19 points to 2234.

On the upside

Hasbro (NYSE: HAS) reassured investors that it was not interested in taking the company private.

NBC announced that it will not sell its 20% stake in ValueVision Media (Nasdaq: VVTV) .

On the downside

Advanced Micro Devices (NYSE: AMD) announced an exchange offer for up to $500 million of its senior notes.

Cypress Sharpridge Investments (NYSE: CYS) will offer of 8 million common shares through a public offering.

The New York Stock Exchange informed Magnetek (NYSE: MAG) that the company's average market capitalization fell below listing standards.

Dell (Nasdaq: DELL) forecast revenue growth in 2011 but warned of weakening demand in Europe.

In the broad market, declining issues outpaced advancers by a margin of more than 8 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 638.