The markets extended its losses during the midday with the Dow tumbling 130 points to 12,096 as oil prices resumed their ascent amidst continuing violence in Libya. Nasdaq plunged 40 points to 2742.
On the upside
GenOn Energy (NYSE: GEN) widened fourth quarter losses due to merger related costs but the company expects to save $150 million in annual costs beginning in January 2012.
AES (NYSE: AES) will sell electricity generated by the 49 MW Mountain View IV wind project in Palm Springs, California to Southern California Edison.
Shares of India's ICICI Bank (NYSE: IBN) soared after India reported strong manufacturing growth in February.
