Higher Gas Prices Weigh Down Markets
Higher gasoline prices weighed down the markets to a lower close with the Dow falling 79 points to 12,090. Nasdaq tumbled 39 points to 2745.
On the upside
Pharmasset (Nasdaq: VRUS) will present at the Cowen & Co. 31st Annual Healthcare Conference this week
Atlas Pipeline Partners (NYSE: APL) will redeem all of its senior notes that are due in 2015.
Advantage Oil & Gas (NYSE: AAV) higher year end reserves of 244,291 million barrels of oil equivalent.
On the downside
YRC Worldwide (Nasdaq: YRCW) announced the resignation of chief financial officer Sheila Taylor effective March 31, 2011 while the transportation services company is in the middle of a financial restructuring.
Janney Capital Markets analyst Brian McGill downgraded Bally Technologies (NYSE: BYI) saying that increasing competition may force the gaming equipment maker to lower prices.Macquarie downgraded Fortress Investment Gourp (NYSE: FIG).In the broad market, declining issues outpaced advancers by a margin of moe than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 12 points to 812.
