Opening Bell Report

The markets opened lower as investors worried about spreading credit problems. The Dow lost 25 points to 12,715 while Nasdaq dropped 20 points to 2454.

On the upside

Illumina (Nasdaq: ILMN) agreed to pay Affymetrix (Nasdaq: AFFX) a one-time sum of $90 million and no royalties to end a series of patent lawsuits between the two companies.

Shares of E-Trade (Nasdaq: ETFC) rose on hopes that the restructuring will reduce risk exposure to the online brokerage's portfolio.

Airline stocks rose on an analyst upgrade as shares of UAL (Nasdaq: UAUA), which operates United Airlines, surged.


On the downside

Capital One Financial (NYSE: COF) lowered its 2007 earnings forecast due to delinquent loans and a $1.9 billion provision for loan losses.

Shares of Men's Wearhouse (NYSE: MW) tumbled after the retail clothing chain slashed its 4th quarter profit forecast due to slower same-store sales.

Barnes & Noble (NYSE: BKS) lowered its 4th quarter and full year guidance due to lower year-to-year same-store sales and recorded music sales that missed expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 705.

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