Shutdown Continues, Markets Open Sharply Lower

The markets opened sharply lower with the Dow plummeting 129 points to 15,062 as the government shutdown continued. Nasdaq lost 21 points to 3796.

On the upside

The ASN Kidney Week 2013 Annual Meeting accepted Rockwell Medical's (Nasdaq: RMTI) Phase 3 CRUISE-1 and CRUISE-2 clinical abstract for poster presentation.

The Food and Drug Administration may soon issue an action letter on Zogenix's (Nasdaq: ZGNX) New Drug Application for Zohydro ER extended release capsules.

Global Payments (NYSE: GPN) reported sharply higher first quarter earnings and revenue and lifted its full year guidance.


On the downside


StemCells (Nasdaq: STEM) priced its public offering of 11.17 million units at the discounted price of $1.45 per unit.

Deutsche Bank downgraded Alcoa (NYSE: AA) from a Hold rating to a Sell rating.

Star Bulk Carriers (Nasdaq: SBLK) priced its public offering of 7 million common shares at the discounted price of $8.80 per share.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 lost 12 points to 1682.

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