March 13, 2008 at 11:00 AM EDT
Opening Bell Report

The markets opened lower as oil prices surged above $110 a barrel. The Dow lost 63 points to 12,046 while Nasdaq gave up 5 points to 2238.

On the upside

Air Methods (Nasdaq: AIRM) posted higher 4th quarter profits due to increased revenues from a recent acquisition and lower tax expenses. Shares of the provider of emergency medical air transportation surged.

Shares of Take-Two (Nasdaq: TTWO) edged higher as Electronic Arts (Nasdaq: ERTS) planned a hostile $2 billion tender offer over its video game rival.

UnitedHealth Group (NYSE: UNH) offered conservative guidance for the 1st quarter and the rest of the year, but remained mostly optimistic about its outlook.

On the downside

Shares of Bear Stearns (NYSE: BSC) slumped on news that Carlye Capital may soon lose all of its assets. As one of Carlye's creditors, Bear Stearns may end up with more mortgage-related writedowns.

Sigma Designs (Nasdaq: SIGM) posted 4th quarter profits that missed targets. Analysts promptly downgraded the chip maker.

Time Warner's AOL unit (NYSE: TWX) announced a $850 million deal to buy social network Bebo.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 666.
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