The markets trimmed its loses during them midday but continued trading in negative territory with the Dow losing 42 points to 10,367 as consumer prices fell last month. Nasdaq slipped 5 points to 2300.
On the upside
Stifel Nicolaus analyst Patrick Newton upgraded Anadigics (Nasdaq: ANAD) saying that the company should expand its market share and surpass earnings estimates in the next six months.
Winnebago (NYSE: WGO) reversed year ago losses to post a greater than expected profit for the third quarter as revenue surged.
Merck Serono will resume clinical trials for Oncothyreon's (Nasdaq: ONTY) lung cancer treatment Stimuvax.
On the downside
Gammon Gold (NYSE: GRS) suspended operations at its El Cubo mine in Mexico, fired 397 union workers and will file criminal charges against seven union executives.
SMithfield Foods (NYSE: SFD) narrowed fourth quarter losses and announced that it will reduce its hog hedging positions but the stock price dropped.
DirecTV (Nasdaq: DTV) chairman John Malone and two other board members left the board.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 663.
