Japan Averts Meltdowns, Markets Close Lower
The markets closed lower with the Dow plummeting 137 points to 11,855 as the nation of Japan worked to avert meltdowns at nuclear power plants. Nasdaq tumbled 33 points to 2667.
On the upside
Google (Nasdaq: GOOG) will install special payment processors from VeriFone Systems (NYSE: PAY) at merchant locations throughout San Francisco and New York over the next four months to test its new mobile payment service.
Heckmann (NYSE: HEK) reported higher fourth quarter earnings as revenue climbed prompting the company to lift its 2011 outlook.
Shares of LDK Solar (NYSE: LDK), Suntech Power (NYSE: STP), Yingli Green Energy (NYSE: YGE) and Trina Solar (NYSE: TSL) all continued climbing after the devastating earthquake in Japan damaged cooling systems in nuclear power plants sparking fears of meltdowns.
On the downside
Negative reviews of THQ's (Nasdaq: THQI) just released Homefront video game sank shares of the entertainment software company.
Investors locked in profits on Star Scientific (Nasdaq: CIGX), whose shares have surged since two of the tobacco company's patents were upheld on Friday.YRC Worldwide (Nasdaq: YRCW) may have to file for bankruptcy after missing a restructuring milestone.In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points 791.
