Renewed Eurozone Concerns Sink Stocks

Renewed Eurozone concerns sent the markets tumbling to a sharply lower close with the Dow plunging 129 points to 13,880. Nasdaq plummeted 47 points to 3131.

On the upside

Panasonic (NYSE: PC) reversed year ago losses to post a profit for the October-December quarter.

COR Capital analyst Steven Sugarman said that Prospect Global Resources (Nasdaq: PGRX) was the best potash investment in North America.

Caesars Entertainment (Nasdaq: CZR) reported preliminary fourth quarter results that topped analyst estimates and announced that it may sell a stake in its online operations.

On the downside

The Justice Department is preparing to sue McGraw-Hill (NYSE: MHP) unit Standard & Poor's for its 2007 mortgage bond ratings. Shares of fellow ratings agency Moody's (NYSE: MCO) fell on the news.

Shares of Synacor (Nasdaq: SYNC) fell ahead of its presentation at the 2013 Stifel Nicolaus Technology Conference in San Francisco tomorrow.

IDP Analytics questioned whether Keryx Pharmaceuticals (Nasdaq: KERX) would be granted New Chemical Entity status for its Zerenex.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index tumbled 17 points to 1495.

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