Europe Fails To Raise Funds, Markets Tumble

European finance ministers failed to raise 200 billion euros for the bailout fund sending the markets tumbling in late afternoon trading with the Dow dropping 100 points to 11,766. Nasdaq plunged 32 points to 2523.

On the upside

Towerstream (Nasdaq: TWER) climbed after announcing a partnership with Skype last week.


Motley Fool wrote that Elan (NYSE: ELN) turned itself around in 2011.

The Oxen Group slashed their price target on LDK Solar (Nasdaq: LDK) from $15.50 to $6 but the stock price rose.

On the downside


A drop in domestic box office receipts and movie attendance weighed down shares of multi-screen theatre operator Regal Entertainment (NYSE: RGC).


Investors locked in profits on Frontline (NYSE: FRO), whose stock price climbed on Friday after announcing a $285 million capital raise.


Reports that Apple (Nasdaq: AAPL) plans to purchase solid-state storage company Anobit sent shares of OCZ Technology (Nasdaq: OCZ) lower.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 708.

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