Drop In Industrial Production Sends Markets Tumbling

A disappointing drop in industrial production sent the markets tumbling to a lower close with the Dow turned falling 107 points to 8504. Nasdaq lost 20 points to 1796.

On the upside

Alexza Pharmaceuticals (Nasdaq: ALXA) will acquire Symphony Allegro.

La-Z-Boy (NYSE: LZB) reversed year ago losses to post a profit for the fourth quarter that topped analyst estimates.

Collins Stewart upgraded Force Protection (Nasdaq: FRPT).

On the downside

The Food and Drug Administration warned that use of Matrixx Initiatives' (Nasdaq: MTXX) Zicam Cold Remedy products may permanently damage a person's sense of smell.

A-Power Energy Generation Systems (Nasdaq: APWR) disappointed with sharply lower first quarter earnings that fell short of expectations.

Patriot Coal (NYSE: PCX) will sell approximately 12 million common shares to raise $107 million.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 503.

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