Global Manufacturing Contracts, Markes Open Lower

A contraction of manufacturing activity in China as well as Europe weighed the markets down to a lower open with the Dow dropping 66 points to 13,058. Nasdaq fell 17 points to 3057.

On the upside

Pozen (Nasdaq: POZN) reported positive results from two Phase 3 clinical trials of its PA32540 immediate release omeprazole and delayed release aspirin.

A Seeking Alpha contributor wrote yesterday that the granting of a patent for Galena Biopharma's (Nasdaq: GALE) breast cancer treatment NeuVax will bring great financial benefits to the company.

The Federal Communications Commission proposed changing satellite airwave rules for wireless networks that will benefit Dish Network (Nasdaq: DISH).

On the downside

FuelCell Energy INc. (Nasdaq: FCEL) priced its public offering of 20 million common shares at the discounted price of $1.50 per share.

Costamare (NYSE: CMRE) priced its public offering of 7.5 million common shares at the discounted price of $14.10 per share.

A military coup in Mali weighed down shares of Rangold Resources (Nasdaq: GOLD).

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 821.

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