Despite government reassurances that Fannie Mae and Freddie Mac will have access to capital, the markets tumbled to a lower close with the Dow plummeting 128 points to 11,101. Nasdaq dropped 19 points to 2239.

On the upside

Robert W. Baird analyst William Power upgraded Syniverse Holdings (NYSE: SVR) saying that the company's valuation is attractive.

Bargain hunters lifted shares of Intermec (NYSE: IN), which tumbled yesterday after the security technology provider cut its second quarter guidance and announced the elimination of 260 jobs.

Robert W. Baird upgraded Mueller Water (NYSE: MWA) earlier this week.

On the downside

Shares of mortgage insurers Radian Group (NYSE: RDN) and PMI Group (NYSE: PMI) fell over concerns about the solvency of Fannie Mae and Freddie Mac.

DineEquity (NYSE: DIN) reported lower same store sales at its Applebee's restaurants prompting the company to cut its full year sales outlook for the chain.

Rite Aid (NYSE: RAD) blamed refinancing costs for lowering its fiscal 2009 outlook.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 675.