Lower Close As Durable Goods Orders Disappoint

The markets extended its losses in afternoon trading to close lower with the Dow tumbling 71 points to 13,126 as durable goods orders rose less than expected. Nasdaq dropped 15 points to 3104.

On the upside

Zalicus (Nasdaq: ZLCS) completed its equity distribution agreement with Wedbush Securities.

Retreating crude oil prices lifted shares of United Continental Holdings (NYSE: UAL).

Robbins & Myers (NYSE: RBN) reported sharply higher second quarter earnings that surpassed analyst expectations and lifted its full year outlook.

On the downside

GenOn (NYSE: GEN) chairman and chief executive Edward R. Muller presented at the 2012 Bank of America/Merrill Lynch Megawatt Round-up Conference today.

CIBC downgraded Fortuna Silver Mines (NYSE: FSM).

Gol Linhas (NYSE: GOL) disappointed with sharply lower fourth quarter earnings as expenses soared.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 834.

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