Greece struggles to make payroll, markets plummet

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The markets tumbled during the midday with Dow diving 235 points to 17,869 as Greece struggled to find sufficient funds to meet payroll obligations by the end of the month. Nasdaq plummeted 68 points to 4,939.

On the upside

Supertel Hospitality (Nasdaq: SPPR) sold two Savannah Suites hotels for a total of $7.8 million and entered an agreement to sell two hotels for $19 million.

Oppenheimer initiated coverage of CytRx (Nasdaq: CYTR) with an Outperform rating.

TrovaGene (Nasdaq: TROV) reported presented data at the 2015 European Lung Cancer Conference demonstrating that its urine-based Precision Cancer Monitoring platform outperformed tissue biopsy for detecting and monitoring EGFR T790M mutations in metastatic lung cancer patients.

On the downside

Discovery Laboratories (Nasdaq: DSCO) completed enrollment in its AEROSURF phase 2a clinical trial but the stock price fell.

PROS Holdings (NYSE: PRO) warned that first quarter earnings would fall short of previous guidance.

Retreating crude oil prices weighed down shares of SandRidge Energy (NYSE: SD).
 
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 plummeted 20 points to 2084. Bitcoin fell $6 to $221.

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This page contains a single entry by published on April 17, 2015 9:26 AM.

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