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Markets Retreat As Financial Stocks Drop
Monday November 02, 2009 - 13:01 PM EST
The markets retreated during the midday with the Dow falling 15 points to 9696 as financial stocks dropped. Nasdaq tumbled 18 points to 2026.
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The markets retreated during the midday with the Dow falling 15 points to 9696 as financial stocks dropped. Nasdaq tumbled 18 points to 2026.
On the upside Amylin Pharmaceuticals (Nasdaq: AMLN) entered a partnership with Takeda Pharmaceutical to develop weight loss treatments. Vertex (Nasdaq: VRTX) reported that its hepatitis C treatment was nearly as effective given twice a day as three times a day. Encore Acquisition (NYSE: EAC) and Denbury Resources (NYSE: DNR) announced merger plans. On the downside YRC Worldwide (Nasdaq: YRCW) announced a debt exchange offer. The Food and Drug Administration denied approval for GTx's (Nasdaq: GTXI) fracture reducing drug for prostate cancer patients. Q-Cells terminated its supply contract with LDK Solar (NYSE: LDK). In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 569.
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