Egypt Unrest Sinks Stocks

The markets turned negative in late afternoon trading with the Dow losing 42 points to 14,932 over unrest in Egypt. Nasdaq slipped a point to 3433.

On the upside

Jim Cramer rated Noodles & Co. (Nasdaq: NDLS) a Buy saying that the fast casual chain could be the next Chipotle Mexican Grill (NYSE: CMG).

StreetAuthority wrote that U. S. Steel (NYSE: S) would rebound 30%.

Third quarter earnings slipped for Acuity Brands (NYSE: AYI) but the results surpassed analyst expectations.

On the downside

Iamgold (NYSE: IAG) began trading ex-dividend yesterday.

A. Schulman (Nasdaq: SHLM) withdrew its $563 million offer for Ferro (NYSE: FOE).

Greenbrier (NYSE: GBX) fell to a loss for the third quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index eased a fraction to 1614.

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