European Woes Weigh Down Markets
Concerns that austerity measures in Europe will be derailed by protesters sent the markets down during the midday with the Dow slipping 4 points to 13,453. Nasdaq dropped 20 points to 3096.
On the upside
American Greetings (NYSE: AM) chief executive Zev Weiss led a group of investors that offered $581 million to take the greeting card company private.
Bargain hunters lifted shares of Knight Capital Group (NYSE: KCG) whose stock price fell yesterday after Forbes reported that August trading volume plummeted 44% compared with July volume after a computer error on August 1 cost the company $440 million.
Alpha Natural Resources' (NYSE: ANR) Centre County Strips mine received the Sentinels of Safety Award from the National Mining Association.
On the downside
Gevo (Nasdaq: GEVO) stock extended its losses after announcing plans to halt isobutanol production to switch to ethanol.
NuPathe (Nasdaq: PATH) will sell $28 million worth of securities through a private placement.
Blyth (NYSE: BTH) nutritional supplement unit ViSalus withdrew its proposal for an initial public offering.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 834.
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