Mid-Day Report

Disappointing earnings and forecasts sent the markets tumbling during the midday with the Dow plunging 148 points to 12,111. Nasdaq fell 27 points to 2231.

On the upside

Starwood Hotels & Resorts (NYSE: HOT) will open their Luxury Collection Resort in the United Arab Emirates in 2011.

Excelon (NYSE: EXC) will repurchase $500 million shares of common stock from Bank of America.

Steven Burd, the chief executive of Safeway (NYSE: SWY), expressed confidence in the company's 2008 earnings guidance.

On the downside

The U. S. Patent and Trademark Office rejected some of Tessera Technologies' (Nasdaq: TSRA) claims.

Cell Therapeutics (Nasdaq: CTIC) will issue approximately $51.7 million worth of senior convertible notes.

Jackson Hewitt (NYSE: JTX) disappointed with lower third quarter earnings as fewer people filed early tax returns.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 12 points to 673.

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