Markets Fall Over Global Economic Uncertainty

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The markets fell during the midday with the Dow slipping 13 points 12,581 as the federal government hit its debt limit and Greece's debt problems continued to mount. Nasdaq dropped 31 points to 2796.

On the upside

ARCA biopharma (Nasdaq: ABIO) president and chief executive Dr. Michael Bristow will present at the Heart Failure Congress in Gothenburg, Sweden this weekend.

Citi lifted its price target on FirstEnergy (NYSE: FE) to $46.

TPG Capital will take Primedia (NYSE: PRM) private in a deal valued at approximately $316.4 million.

On the downside

VanceInfo Technologies (NYSE: VIT) reported higher first quarter earnings as revenue rose but the stock price dropped. 

Investors locked in profits on Giant Interactive Group (NYSE: GA) after the company reported higher first quarter earnings that topped analyst estimates. Shares of the online game developer rose last week ahead of its earnings release.

First quarter earnings rose for FXCM (NYSE: FXCM) but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 828.

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This page contains a single entry by published on May 16, 2011 10:02 AM.

European Bailouts Weigh Markets Down To Lower Open was the previous entry in this blog.

Greece May Default, Markets Close Lower is the next entry in this blog.

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