Rising gasoline prices sent the markets tumbling to a sharply lower close with the Dow plunging 119
points to 11,493. Nasdaq plummeted 33
points to
2546.
A Seeking Alpha contributor suggested that Zynga acquire Glu Mobile (Nasdaq: GLUU).
Blue Coat Systems (Nasdaq: BCSI) reached a standstill agreement with Elliott Associates to provide confidential information to the investment firm for a possible acquisition.
Swisher Hygiene (Nasdaq: SWSH) acquired Evergreen Hygiene in a cash and stock deal.
On the downside
Vonage Holdings (NYSE: VG) announced that customers can add a second extension to their existing home plans for an additional $9.99 per month but the stock price fell.
Greif (NYSE: GEF) reported lower third quarter earnings that fell far short of analyst expectations and the industrial packaging company cut its full year outlook.
The Dallas County district attorney may open an investigation into allegations that Office Depot (NYSE: ODP) overcharged Dallas County for office supplies.
In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 18 points to 708.
