The markets extended its losses during the midday with the Dow dropping 75 points to 11,974 as concerns rose about the financial health of Italy's banks. Nasdaq fell 26 points to 2660.
On the upside
Shares of Acura Pharmaceuticals (Nasdaq: ACUR) rose after the Food and Drug Administration rejected Pain Therapeutics' (Nasdaq: PTIE) severe pain medication. The regulatory agency approved Acura's paid drug Oxecta earlier this week.
A Seeking Alpha article said that KV Pharmaceutical (NYSE: KVA) was pursuing a path to profitability by becoming a specialty pharmaceutical.
Brocade Communications Systems (Nasdaq: BRCD) named Dan Fairfax to replace Richard Deranleau as chief financial officer, who resigned from the firm on Monday, June 20.
Valero Energy (NYSE: VLO) reassured investors that maintenance work at its Corpus Christi, Texas refinery will not impact production but the stock price dropped.
Finish Line (Nasdaq: FINL) reported higher first quarter earnings but revenue fell short of analyst expectations.
STR Holdings (NYSE: STRI) cut its second quarter revenue and earnings guidance prompting a downgrade.
