Sharply Lower Close Over Earnings Concerns
The markets tumbled to close sharply lower with the Dow plummeting 128 points to 13,344 over corporate earnings concerns. Nasdaq dropped 13 points to 3051.
On the upside
Barnes & Noble (NYSE: BKS) chief executive William Lynch said that preorders for the new Nook HD and HD+ reached record levels.
Shares of Lloyds Banking Group (NYSE: LYG) rose after the Financial Services Authority relaxed capital rules for banks.
Edwards Lifesciences (NYSE: EW) completed its $42 million acquisition of blood circulation monitoring company Bmeye.
On the downside
Valero Energy (NYSE: VLO) director Marbut Bob sold shares of company stock.
Meritor (NYSE: MTOR) will release fourth quarter and full year earnings on Wednesday, November 14, 2012.
Cell Therapeutics (Nasdaq: CTIC) continued falling after announcing a public offering of $60 million in convertible preferred stock last week.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 826.
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