Soaring wholesale prices along with a sharp drop in new home construction sent the markets into a tailspin with the Dow collapsing 242 points to 11,613. Nasdaq plunged 50 points to 2616.
On the upside
The Wall Street Journal reported that Websense (Nasdaq: WBSN) retained the services of Qatalyst Partners to explore the possible sale of the company.
Superior Industries (NYSE: SUP) reversed year ago losses to post a profit for the fourth quarter.
China Education Alliance (NYSE: CEU) announced that it purchased a 60% stake in Harbin Tianlang Culture and Education School.
On the downside
