Protests Weigh Down Markets
Protests against austerity measures in Greece and Spain weighed the markets down to a lower open with the Dow losing 24 points to 13,432. Nasdaq tumbled 28 points to 3089.
On the upside
Sterne Agee & Leach analyst Shaw Wu said that Research in Motion (Nasdaq: RIMM) may top lowered expectations for the second quarter.
Bargain hunters continued to lift shares of Peregrine Pharmaceuticals (Nasdaq: PPHM), whose stock price plunged on Monday after revealing discrepancies in a drug trial.
A judged ruled in favor of Life Partners Holdings (Nasdaq: LPHI) in a suit filed by Texas Attorney General Greg Abbott that the company deceived buyers of interests in life insurance policy settlements.
On the downside
Catalyst Pharmaceutical Partners (Nasdaq: CPRX) announced that results from a Phase II(b) clinical trial of its cocaine addiction treatment CPP-109 will be delayed.
Jabil Circuit (NYSE: JBL) disappointed with lower fourth quarter earnings that fell short of analyst expectations and forecast current quarter results below estimates.
Fortinet (Nasdaq: FTNT) chief financial officer Ken Goldman will join Yahoo (Nasdaq: YHOO) as its new chief financial officer on October 22.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 837.
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