A surge in producer prices weighed down the markets to a lower close with the Dow plunging 109 points to 12,160. Nasdaq dropped 17 points to 2458.
On the upside
On the downside
Medicis Pharmaceutical (NYSE: MRX) will pay $150 million in cash to acquire privately held LipoSonix.
Goldman Sachs cut its price target for Washinton Mutual (NYSE: WM) saying that the nation's banks will probably have to raise $65 billion due to the continuing credit crisis.
Alliance One International (NYSE: AOI) delayed filing its annual report saying that its financial statements are not complete.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by a margin of more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 4 points to 737.