A much greater than expected number of jobs were eliminated last month to send the markets tumbling during the midday with the Dow plunging 138 points to 10,536. Nasdaq dropped 29 points to 2263.
On the upside
Onstream Media (Nasdaq: ONSM) unveiled its new MarketPlace365 virtual tradeshow with Subway that boasts more than 100 food, beverage and consumer packaged goods and services providers participating in the online marketplace.
Scientific Games (Nasdaq: SGMS) reported a second quarter loss but revenue rose to top estimates and the company announced plans to purchase GameLogic.
Assured Guaranty (NYSE: AGO) reversed year ago losses to post a profit for the second quarter that surpassed analyst estimates by a wide margin.
On the downside
ATP Oil & Gas (Nasdaq: ATPG) blamed the drilling moratorium in the Gulf of Mexico for widening second quarter losses more than expected.
While Kulicke & Soffa (Nasdaq: KLIC) reported better than expected third quarter results and forecast fourth quarter revenue ahead of estimates, Bank of America Merrill Lynch analyst Krish Sankar downgraded the company to an Underperform rating citing valuation concerns.
Openwave Systems (Nasdaq: OPWV) narrowed fourth quarter losses but revenue fell.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 643.
