Fitch Ratings downgraded Spain's debt rating sending the markets tumbling during the midday with the Dow plunging 103 points to 10,155. Nasdaq dropped 23 points to 2253.
On the upside
Vivus (Nasdaq: VVUS) will present data from a phase 3 study of the erectile dysfunction treatment avanafil at the American Urological Association 2010 Annual Meeting.
Jackson Hewitt Tax Service (NYSE: JTX) said that full year 2010 revenue will top estimates as the number of prepared tax returns fell less than expected.
Rodman & Renshaw initiated coverage of Xinyuan Real Estate (NYSE: XIN) with a Market Outperform rating.
On the downside
Parametric Technology (Nasdaq: PMTC) chief financial officer Neil Moses will leave the company November 15, 2010.
Shares of Oceaneering (NYSE: OII), a provider of offshore engineered services for deepwater oil applications, tumbled after the government issued a temporary ban on offshore drilling.
Fourth quarter earnings for Universal (NYSE: UVV) rose but revenue was flat.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 661.
