Fear Of Deepening Financial Crises In Europe Weighs Down Stocks
Protests against financial reform measures in Europe sparked fears of a deepening financial crises to weigh the markets down to a lower close with the Dow falling 22 points to 10,835. Nasdaq slipped 3 points to 2376.
On the upside
A rumor circulated on TheFlyontheWall that Eli Lilly (NYSE: LLY) may be interested in acquiring Mannkind (Nasdaq: MNKD).
Callon Petroleum (NYSE: CPE) will increase production in the Wolfberry trend of the Permian Basin in Texas.
MKM Partners initiated coverage of GMX Resources (NYSE: GMXR) with a Buy rating.
On the downside
Moduslink Global Solutions (Nasdaq: MLNK) widened fourth quarter losses despite higher revenue as expenses increased.
Slowing sales in September weighed down shares of Urban Outfitters (Nasdaq: URBN).
A bankruptcy hearing for American Safety Razor revealed that Energizer Holdings (NYSE: ENR) made a $301 million cash offer to acquire American Safety.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 677.
