Concerns that the European debt crisis will extend beyond Greece sent the markets into a tailspin with the Dow plummeting 225 points to close at 10,926. Nasdaq slumped 74 points to 2424.
On the upside
The Corporate Executive Board Company (Nasdaq: EXBD) reported lower first quarter earnings but the company lifted its outlook for 2010.
First quarter earnings surged for Cabela (NYSE: CAB) as revenue soared.
Ann Taylor (NYSE: ANN) cited strong sales for raising its first quarter forecast above analyst estimates.
On the downside
Hologic (Nasdaq: HOLX) reversed year ago losses to post a second quarter profit that met expectations and forecast third quarter results below estimates prompting a downgrade.
Domino's Pizza (NYSE: DPZ) reported higher first quarter earnings that beat expectations but the stock price fell.
Westlake Chemical (NYSE: WLK) disappointed with first quarter earnings that fell short of expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 22 points to 710.
