Budget Talks Collapse In Netherlands, Markets Slump

A breakdown in budget negotiations in the Netherlands renewed concerns about the European economy sending the markets tumbling to a sharply lower open with the Dow slumping 161 points to 12,867. Nasdaq plummeted 45 points to 2954.

On the upside

Andrea Biosciences (Nasdaq: RDEA) will be acquired by AstraZeneca (NYSE: AZN) in a deal valued at approximately $1.26 billion.


Reuters reported that Amylin Pharmaceuticals (Nasdaq: AMLN) retained the services of Credit Suisse and Goldman Sachs to explore the possible sale of the company.


Brinker International (NYSE: EAT) reported higher third quarter earnings that beat analyst expectations as revenue rose.


On the downside


A New York Times article alleged that Wal-Mart (NYSE: WMT) halted an internal investigation into bribery in Mexico.


Check Point Software Technologies (Nasdaq: CHKP) reported higher first quarter earnings as revenue rose but the stock price fell.

JMP Securities downgraded Achillion Pharmaceuticals (Nasdaq: ACHN) saying that the company's Phase 2 clinical trial results for its hepatitis C treatment ACH-1625 were confusing.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 786.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here