Ongoing Budget Stalemate Sinks Stocks

As the budget stalemate continued without any indications of a resolution, the markets plummeted to close sharply lower with the Dow collapsing 136 points to 14,936. Nasdaq tumbled 37 points to 3770.

On the upside

Cardiome Pharma (Nasdaq: CRME) reported positive data from an observational, retrospective study of BRINAVESS to treat atrial fibrillation.

The Wall Street Transcript released an excerpt from an interview with InvenSense (NYSE: INVN) president and chief executive Behrooz Abdi.

Reuters reported that PHH (NYSE: PHH) may sell its mortgage business and its auto fleet leasing business.

On the downside

Wohl & Fruchter announced an investigation into Acorn Energy (Nasdaq: ACFN) for possible securities fraud.

Navistar International (NYSE: NAV) will offer $200 million of senior subordinated convertible notes through a private placement.

Profit taking sank shares of Liquidity Services (Nasdaq: LQDT).

In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 dropped 14 points to 1676.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here