January 17, 2008 at 16:40 PM EST
Closing Bell Report

Sharply lower manufacturing activity fueled recessionary fears sending the markets skidding to a close with the Dow plummeting 307 points to 12,159. Nasdaq plunged 48 points to 2347.

On the upside

LaserCard (Nasdaq: LCRD) will develop an identification management system with two other companies for the Angola government.

Stoneridge (NYSE: SRI) forecast fourth quarter results above expectations and lifted its full year earnings.

Although fourth quarter sales tumbled 24% for Meritage Homes (NYSE: MTH), the homebuilder expects a profit for 2007.

On the downside

Virgin Mobile (NYSE: VM) will replace outgoing chief marketing officer Howard Handler with Bob Stohrer.

Shares of mortgage insurer MGIC (NYSE: MTG) tumbled as new home construction plunged more than 24%, the greatest decline since 1980.

Under Armour (NYSE: UA) forecast 2007 results above expectations but the stock price dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 19 points to 681.

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