Closing Bell Report

The markets closed mixed over rising unemployment and greater than expected job losses. The Dow dropped 17 points to 12,609 while Nasdaq gained 8 points to 2371.

On the upside

Draxis Health (Nasdaq: DRAX) agreed to be acquired by a subsidiary of Jubilant Organosys for approximately $255 million.

Landry's Restaurants (NYSE: LNY) received a revised offer letter from Chairman, President and Chief Executive Tilman J. Fertitta to take the company private.

Westlake Chemical (NYSE: WLK) promoted Vice President, Polyethylene Jeffrey L. Taylor to the position of Senior Vice President, Polyethylene.

On the downside

The chief financial officer of Orthofix International (Nasdaq: OFIX), Timothy Adams, suddenly resigned after less that six months on the job.

Shares of Washington Mutual (NYSE: WM) fell over concerns that more write-downs will further erode the already deteriorating credit markets.

Moody's Financial Services cited severe liquidity problems for downgrading Countrywide Financial's (NYSE: CFC) bank.

In the broad market, advancing issues outpaced decliners by a margin of more nearly 5 to 4 on the NYSE while advancers barely edged out decliners on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 714.

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