Middle East Strife Send Markets Plummeting
Israeli airstrikes in Gaza reignited concerns of Middle East strife sending the markets tumbling to a sharply lower close with the Dow plummeting 185 points to 12,570. Nasdaq plunged 37 points to 2846.
On the upside
Starbucks (Nasdaq: SBUX) will pay approximately $620 million in cash to acquire Teavana (NYSE: TEA).
Third quarter revenue surged for China Auto Logistics (Nasdaq: CALI).
Billionaire investor Carl Icahn acquired a 9.99% stake in Greenbrier (NYSE: GBX). On the downside
Shares of Trina Solar (NYSE: TSL) continued falling after cutting its third quarter shipment outlook on Monday.
Profit taking sank shares of Energy Solutions (NYSE: ES) whose stock price rose last week after posting higher third quarter earnings and revenue that beat analyst expectations.
Envivio (Nasdaq: ENVI) blamed global economic challenges for slashing its third quarter revenue guidance.
In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 15 points to 773.
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