Greece Downgraded, Markets Close Lower
The markets closed lower with the Dow losing 20 points to 10,190 after Moody's Investors Service downgraded Greece's debt rating. Nasdaq added a fraction to 2243.
On the upside
Briefing.com reported that Omnicell (Nasdaq: OMCL) was rumored to be exploring the possible purchase of InfoLogix (Nasdaq: IFLG).
Stifel Nicolaus upgraded Mohawk Industries (NYSE: MHK) to a Buy rating.
Allied Irish Banks (NYSE: AIB) issued nearly 200 million ordinary shares to the National Pension Reserve Fund Commission.
On the downside
CF Industries Holdings (NYSE: CF) appointed AptarGroup chief operating officer Stephen J. Hagge to its board of directors.
Trust One will be rolled into parent company Synovus Financial's (NYSE: SNV) Georgia charter at the end of the month.
A proposal in the Wall Street reform bill that may force banks to spin-off their over the counter derivatives trading business sent shares of Bank of America (NYSE: BAC), JP Morgan Chase (NYSE: JPM) and Wells Fargo (NYSE: WFC) lower.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 652.
