Core Consumer Prices Rise More Than Expected, Markets Close Lower


A greater than expected increase in core consumer prices sent the markets down to a sharply lower close with the Dow plunging 100 points 12,595. Nasdaq tumbled 34 points to 2828.

On the upside

Darling International (NYSE: DAR) impressed with sharply higher first quarter earnings that surged fourfold to easily surpass analyst expectations as revenue more than doubled. (NYSE: YOKU) announced a secondary offering of 8 million shares.

Atlas Energy (NYSE: APL) reversed year ago losses to post a profit for the first quarter.

On the downside

A Food and Drug Administration advisory panel recommended approval for BioMimetic Therapeutics' (Nasdaq: BMTI) Augment bone graft but the 12 to 6 vote raised concerns. 

Shares of Ener1 (Nasdaq: HEV) continued falling after reporting a much larger quarterly loss on Tuesday after market close.

China Shengda Packaging Group (Nasdaq: CPGI) disappointed with lower first quarter earnings as revenue fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 11 points to 835.

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This page contains a single entry by published on May 13, 2011 1:26 PM.

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