Closing Bell Report

The markets closed lower despite retreating oil prices after Federal Reserve Chairman Ben Bernanke warned that a recession was certain without the $700 billion bailout plan. The Dow plummeted 162 points to 10,854 while Nasdaq plunged 26 points to 2153.

On the upside

Intel (Nasdaq: INTC) announced that its global investment unit Intel Capital will pay $20 million to acquire an unspecified stake in Telligent Systems.

The American Antitrust Institute recommended that the deal between Google (Nasdaq: GOOG) and Yahoo (Nasdaq: YHOO) should proceed with certain limits.

Despite a late afternoon sell off of financial stocks, shares of National City (NYSE: NCC) rose to close higher.


On the downside

One of Energy Conversion's (Nasdaq: ENER) largest clients cut its guidance citing financial crisis in the U. S along with the expiration of the Investment Tax Credit.

Shares of Avis Budget Group (NYSE: CAR) tumbled after rival Dollar Thrifty Automotive's (NYSE: DTG) earnings warning.

Aircastle (NYSE: AYR) announced that it entered a five year $206.6 million senior secured debt facility.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 11 points to 709.

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