Markets Slip On Greece Downgrade

The markets reacted to Fitch's downgrade of Greece by trading lower during the midday with the Dow losing 36 points to 12,929. Nasdaq fell 15 points to 2932.

On the upside

Nabors Industries (NYSE: NBR) fell to a loss for the fourth quarter but the results were better than expected.

Gannett (NYSE: GCI) announced a revitalization plan to increase revenue.

Fourth quarter earnings slipped for Sourcefire (Nasdaq: FIRE) but the results were better than expected.

On the downside

NorthStar Realty Finance (NYSE: NRF) priced its public offering of 15 million common shares at the discounted price of $5.55 per share.

Analysts expect Human Genome Sciences (Nasdaq: HGSI) to report a loss for the fourth quarter.

Forest Oil (NYSE: FST) disappointed with sharply lower fourth quarter earnings that fell far short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 817.

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