Mid-Day Report

Increased job losses weighed down the markets during the midday with the Dow plummeting 119 points to 11,921. Nasdaq lost 10 points to 2211.

On the upside

iStar Financial (NYSE: SFI) declared a regular quarterly dividend of 87 cents per common share payable on April 30, 2008 to shareholders of record March 17, 2008.

AbitibiBowater (NYSE: ABH) announced a $1.4 billion refinancing plan through the issuance of senior secured and non-secured notes.

While Quiksilver (NYSE: ZQK) swung to a loss for the first quarter, revenue surpassed estimates.

On the downside

AngioDynamics (Nasdaq: ANGO) warned that third quarter revenue will fall short of estimates despite increased sales.

Fourth quarter earnings edged up for Dynamic Materials (Nasdaq: BOOM) but the results fell shy of estimates while the company forecast disappointing first quarter profit.

New Mexico state regulators approved a rate increase that was a fraction of the $76.9 million requested by PNM Resources (NYSE: PNM).

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 662.

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