Disappointment In Japan's Policy Sends Markets Plummeting

Investors were disappointed that the Bank of Japan will hold its stimulus measures steady rather than increase its bond buying program. The markets opened sharply lower with the Dow plummeting 138 points to 15,099 while Nasdaq plunged 38 points to 3434.

On the upside

Questcor Pharmaceuticals (Nasdaq: QCOR) paid $60 million upfront for the rights to develop Synacthen and Synacthen Depot in the United States and certain other countries.

Dole Food (NYSE: DOLE) chief executive David Murdock offered a premium of $12 per share to acquire the fruit and vegetable company.

CardioNet (Nasdaq: BEAT) entered a three-year National Provider Agreement with UnitedHealthcare.

On the downside

Lululemon Athletica (Nasdaq: LULU) reported flat first quarter earnings and announced the retirement of chief executive Christine Day.

The lock-up period expired for approximately 61.9 million shares of SolarCity (Nasdaq: SCTY).

LDK Solar (NYSE: LDK) widened first quarter losses as revenue plummeted .

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The broader S&P 500 index tumbled 16 points to 1626.

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