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Another Greek Deadline Passes With No Deal, Markets Fall
Posted on February 06, 2012 at 14:17 PM EST
The markets traded lower during the midday with the Dow losing 44 points to 12,817 after another deadline passed for Greece to restructure its debt. Nasdaq slipped 6 points to 2899.
On the upside
The Food and Drug Administration's critical review of Amgen's (Nasdaq: AMGN) prostate cancer treatment Xgeva lifted shares of rival Dendreon (Nasdaq: DNDN), whose prostate cancer treatment Provenge was approved in April 2010.
HCA Holdings (NYSE: HCA) reported sharply higher fourth quarter earnings that surpassed analyst expectations by a wide margin.
Bargain hunters lifted shares of Abercrombie & Fitch (NYSE: ANF), whose shares tumbled last week after the retailer warned that fourth quarter results would fall short of expectations.
On the downside
Sysco (NYSE: SYY) disappointed with lower second quarter earnings that fell short of analyst expectations as margins slipped.
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 lost 3 points to 827.
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